Inner West Property Market

February 10th, 2017

The Inner West property market may already have come off the boil.

In a very interesting micro litmus test last night, the renovated, freestanding terrace at 26 Metropolitan Road, Enmore – one of the suburbs best streets – sold at auction for $2,005,000. https://m.realestate.com.au/property-house-nsw-enmore-12445…

Despite spirited but short stride bidding from more than six parties, that result was just 2% higher than the $1,960,000 paid last December after a seven party bidding war, for the unrenovated and attached 14 Metropolitan Road five doors up the street.

You’d need a lot more than $45,000 to bring #14 up to the same standard as #26 and even then, it would be inferior.