A charming house in a sought-after pocket of western Sydney has been snapped up by first home buyers for $650,000.
The quaint and inviting facade of 57 Yillowra St, Auburn, helped get more than 25 groups through the door in the seven weeks it was on the market.
Starr Partners Auburn’s Greg Okladnikov said the character home had attracted a specific buyer demographic throughout the campaign.
“These sorts of houses always sell well because they are cute little cottages and they are especially popular with first home buyers because they are priced about the same as townhouses,” Mr Okladnikov said.
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“We initially came on the market at $725,000 but when the price was adjusted to $695,000 there was a lot more interest and we had five contracts issued,” he said.
Given the nature of old homes, in that they require some internal work, a sale price was negotiated between the buyer and vendor.
The new owners were thrilled to have secured the home, after searching for some time.
Mr Okladnikov said it was an interesting story as the buyers had come from overseas and had been saving to buy.
“They moved to Australia about 10 years ago and never had the chance … they were in their mid-50s and it was great because you don’t see that very often,” he said.
CoreLogic records reveal the two-bedroom cottage last sold in 2011 for $405,000.
Its latest sale price was a bargain at $225,000 less than the suburb’s current median house price.
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The sellers put the property on the market following a move to Victoria due to work. They had been renting it out for $420 a week, records show.
About 700m from the train station, the home has two living rooms, a dining area, bathroom and a modern kitchen. It features high ceilings and polished timber floors.