Monthly Sydney Property Insights

As chance would have it following our recent dialogue with the NSW Government (see last post), we just bought in Millers Point.

“What a difference a [Bridge] makes, 24 little rivets”…

The terrace without the quarter Bridge glimpse sold for $1.606 million having been passed in at $1.596 million following spirited bidding that began at $1.4 million.

Minutes after being passed in, its mirror image adjoining neighbour with the rear Bridge glimpse (from a porthole window that can’t be enlarged and a tiny backyard), sold under the hammer for $1.675 million after an even more spirited bidding war starting at $1.5 million. The buyer thought it was a bargain and would have paid more.

Both 1 bedroom and both on a tiny 50m2 plot of land.

About 10 bidding on the two.

Other reserve prices for much grander Millers Point properties were smashed on the night.

Some EOY cheer for McGrath and its client but not, we suspect, for the evicted housing commission tenants wherever they might be now.



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