Property at 10 Bailey Street, (Bailey St). (photo of property website Realestate)
A brick house in (North Epping), North Yiping, has three bedrooms, a spacious kitchen and a swimming pool, but these are not the main reasons for attracting buyers to take pictures of the property, according to real estate website Realestate.
The property, at 10 Bailey Street, is known to have been built in the 1950s.
The property, which was auctioned on Saturday, attracted about 150 people, including 17 interested buyers registered and 10 active bidders. The property starts at A $850000 and soon exceeds the A $1.15 million guidance price and the A $1.2 million retention price.
Eventually, the property was sold for A $one million three hundred and forty five thousand, exceeding the retention price of A $ one hundred and forty five thousand.
Property at 10 Bailey Street, (Bailey St). (photo of property website Realestate)
Murphy (Catherine Murphy), a sales agent, said the sale was once again a representative of "land-only value" as buyers planned to knock down the house and rebuild it.
Murphy said the property, built on 1113 square meters of land, provides a "perfect plot" where buyers can build their own super-large homes.
Before the auction, the property attracted more than 70 groups to see the house, and many people quoted for it.
Murphy said the market still has a lot of buyers waiting for the opportunity. Although there is a lot of negative view of the housing market, buyers have realized that it is the perfect time to buy a home. The property that can be bought now is worth more than two years ago, and it is easier to get into the housing market.
