For proof that Sydney’s house market is totally out of control, look no further than the absurd prices fetched by some of the city’s most dilapidated properties.
House prices in popular suburbs have more doubled in the space of five years, meaning the average modest home in Sydney’s inner-west has soared to a staggering $1.5 million.
Daily Mail Australia has taken a look back at some of Sydney’s most ‘unlivable’ houses that flew off the market this year for well over a million dollars – including a fire-ravaged home and a shack barely kept together with duct tape.
The winning bidder from the auction shelled out over $2 million for this Homebush property despite the walls nearly falling in
This Surry Hills property held together with tape and cardboard sold for $1.85 million at auction – but will need a major revamp
‘Unliveable’ and ‘dilapidated’ Federation-era home in Homebush sells for $2.32 MILLION
Billed as a ‘dilapidated character home’, this four-bedroom house was the subject of an intense auction battle between seven determined bidders in July of 2017.
At the time it was sold, the ‘derelict’ home was completely unlivable – buyers were warned that the it needed ‘significant renovation’ just to make it habitable.
But the excellent location near shops, local cafes and schools combined with original fireplaces, high ceilings and leadlight windows drove the price up over $2 million.
The ‘unliveable’ property at 14 Abbortsford Rd in Homebush sold for a staggering $2.32 million at a well-attended July auction
With its cracked windows and walls, ruined floors and mold in the ceiling, the property will most likely need a total rebuild
A Camperdown terrace has already been approved to be turned into student accommodation sold for $1.96 million in March
Former cottage turned ‘tired terrace’ in Camperdown fetches almost $2 MILLION at auction
A small former cottage that’s described by Domain as ‘tired throughout’ and in need of a ‘creative revamp’ sold for an eye-watering $1,960,000 at auction in March.
It doesn’t look like much, but the ‘solid-gold’ selling point is that the building is situated less than a block away from Sydney University,
Furthermore, the property has already been approved for a four-story, 11-room student accommodation build on the 240-square-metre block.
The house at 12 Sparkes St in Camperdown sold for close to the $2 million mark despite being unfinished and in bad condition
Ruined floors, smashed-in hinges, splintered locks and a broken down fireplace didn’t deter buyers at the busy March auction
The ‘solid-gold’ selling point of the building is that it’s a block from Sydney University, and can be turned into student rooms
$1.5 MILLION for fire-ravaged home ‘in need of complete rebuild’ that’s been empty for a year
A fire-damaged residence in need of a complete knockdown and total rebuild sold at auction in December for $1,516,000.
Advertised as ‘pure potential’, the home burned down last Christmas and although the occupants escaped unharmed, they clearly didn’t want to stick around.
It was so damaged that it was billed as a ‘virtual blank canvas’, inviting developers or those who want to design a home from scratch to build on one of the best streets in Rosebery.
The house at 25 Wellington St in Rosebery burned down last Christmas, and hasn’t been lived in since it was gutted by flames
The small property was so damaged by fire and smoke damage that it was billed to potential buyers as a ‘virtual blank canvas’
‘Completely unbelievable’ property that was never finished sells for whopping $1.2 MILLION
The dilapidated, rusted, rotting, unfinished house sitting on less than 320 square metres of land in Marrickville sold for $1.2 million in November.
‘We’ve done a renovation job before, but it wasn’t as bad as this, we’re not sure yet if we’ll renovate or rebuild,’ the winning bidder said. ‘It’s absolutely not liveable as it is’.
It was marketed as an opportunity for renovators to purchase a blank canvas in a prime location in Sydney’s popular inner-west.
It sold for $100,000 over the reserve, after an astonishing 100 bids were made for the decrepit home.
A dilapidated, rusted and unfinished house in a prime location in Marrickville sold for more than $100,000 over the reserve
The house sold despite the peeling paint, ruined wallpaper, broken shades, smashed glass and scuffed and dirty floorboards
An astonishing one hundred bids were made for the decrepit old house, featuring a kitchen sink with three broken water taps
The rundown, dilapidated home was marketed as an opportunity for renovators to purchase a blank canvas in a prime location
Rundown home held together with duct tape and spare cardboard sells for $1.85 MILLION
The semi on Reservoir Street in trendy Surry Hills was labelled by agents as one for ‘true romantics’ with natural light and an ‘old world sense of space’.
It’s a decrepit corner block with badly damaged walls and duct tape keeping flooring together – but it’s also in a suburb that investors are fighting to build in.
Exposed wires and cords run along the walls and a piece of cardboard appears to have been used in shoddy patchwork next to a sealed-off fireplace.
Badly damaged walls, and floors held together by duct tape and exposed and broken pipes didn’t turn buyers off the property
Exposed wires and cords run along the walls, the kitchen is half-demolished and a piece of cardboard holds one wall in place
The location of this semi-detached house on Reservoir Street in the popular Surry Hills helped it fetch $1.85 million at auction