While the economy might be showing signs of recession, deflation and just general confusion from the government, Sydney’s rising property prices at least aren’t showing any signs of slowing down as a fire damaged Surry Hills property sold for $911,000 at auction over the weekend.
Described by realtor BresicWhitney Darlinghust as a “blank canvas” for renovators as well as a “potentially affordable entry point” (as in you might potentially be a millionaire?) I can’t help but feel they missed out on some great puns. Why not “a red hot deal for a first-time investor” or “like a phoenix from the ashes this property will rise again!”
Burnt and charred on the inside, the 48 Little Riley St residence caught fire earlier this year with the former residents being rescued from the bedroom upstairs. And while a ‘home with a story’ is often a draw for some prospective property buyers, so is the absence of extensive fire damage. Who knows though, maybe they’ll go for a stripped-back industrial chic vibe?
Probably not though, as the buyer was a builder, so odds are the home will see a little more luxurious of a remodel, with Time Out reporting the property could sell for well above $1.5 million after renovations. Emphasis on well above I’d say.
