Small old house is the most popular near CBD in Sydney

Source: yeeyi.com
[Economic News]     2019-10-09
This spring, the interest of Sydney buyers has shifted to older apartments. Real estate agents say there has been a strong interest in apartments from...

This spring, the interest of Sydney buyers has shifted to older apartments. Real estate agents say there has been a strong interest in apartments from the 1960s to the 1970 s.

Alex Pataro (Alex Pattaro), chief auctioneer at Ray White New State, said: "in the past, these apartments were not popular because the house was made of orange bricks, but now people in many parts of Sydney like to buy the old apartments of the time."

This demand is particularly evident, he said, especially within 10 kilometers of CBD.

"Old apartments are starting to sell well," he said. "people are satisfied with the size of these apartments, and they know the quality of these old apartments is very good," he said.

He found that the real estate, which usually has lower taxes and maintenance costs, is attractive to first-time buyers.

He cites the first floor of a building in Bank Street, Meadowbank, where eight buyers, most of them new generation, bid. The apartment, located on the first floor, has been fully renovated and has two bedrooms for 570000 yuan.

He points out that people like to buy house in neighborhoods built in the 1980s and even 1990s, and gradually stop buying house built after the millennium.

Craig Stokes (Craig Stokes), an agent at Devine Real Estate Drummoyne, said on Oct. 5 that he sold a fully original apartment that attracted much more potential buyers than he had originally expected.

"I was surprised by that apartment," he said. "I didn`t expect so many people to be interested. It cost far more than we thought."

Although the real estate ended up selling to an investor for 900000 yuan, most interested people are first-time buyers.

He believes buyers used to prefer to live in apartments in old neighborhoods, a trend exacerbated by a series of problems recently exposed to new buildings.

"I think people prefer old-fashioned apartments," he said. "the quality of apartments in the 1970s was good. People prefer to buy old ones and redecorate them," he said.

Another old two-bedroom apartment at 9 / 22 Dee Why Polonia Street was sold to a homeowner by McGrath Dee Why`s Alex Augustiniak (Alex Augustyniak) and Jessica Federgo (Jessica Fedrigo) for 815000 yuan.

Alex says more buyers are now interested in buying than at the peak of the market.

In their area, many old neighborhoods have few new developments along the, Dee Why River.

"I think it depends on the habits of consumers," he said. "although there are a lot of new apartments in Dee Why, homeowners tend to be attracted to old buildings. Another advantage of old buildings is that they are more exquisite. They are usually double-decked brick structures with high ceilings and usually do not require any maintenance."

Michael of Raine and Horne Kogarah? Peliotis (Michael Pyliotis) believes buyers do not have to wait to buy old house and can move in directly.

Last weekend, he sold a two-bedroom apartment at 18 / 28 French Street in Kogarah for 585000 yuan.

They saw many first-time buyers looking for house, usually young people.

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