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Sydney apartment sells for $1m over asking price despite tiny bedroom and ‘leaking’ in inspections

Flat sells for $1million over the asking price despite having a tiny second bedroom and ‘leaking’ roof during inspections

  • Two-bedroom apartment in trendy inner-city Sydney suburb sells for $2.7million
  • Flat in Darlinghurst sold for nearly $1million over the $1.8million asking price 
  • Sum dwarfs the median price for two-bedroom homes in the area of $1.4million 

A two-bedroom apartment in a trendy Sydney inner-city suburb has sold for nearly $1million over its asking price.

The flat in Darlinghurst in the city’s east was bought for a mammoth $2.7million despite being listed for $1.8million.

The sum dwarfs the median price for two-bedroom homes in the area which sits at $1.4million, according to Real Estate.

A two-bedroom apartment in a trendy Sydney inner-city suburb has sold for nearly $1million over its asking price (exterior of the house)

The flat in Darlinghurst in the city's east was bought for a massive $2.7million despite being listed for $1.8million (living room that leads onto the balcony pictured)

The flat in Darlinghurst in the city’s east was bought for a massive $2.7million despite being listed for $1.8million (living room that leads onto the balcony pictured)

The period apartment features a living and dining room (pictured) with timber floorboards

The period apartment features a living and dining room (pictured) with timber floorboards

The apartment, which sits on a tranquil backstreet in the popular suburb, features three balconies, two parking spaces and timber floorboards throughout.

The period home has all of the regular trimmings that make a house a home – including a quaint living and dining room – but Veronica Morgan of Good Deed Property told NCA NewsWire the sale ‘defied logic’.

She said the ‘uniqueness’ of two car spaces and three balconies drove the price up exponentially but indicated the second bedroom was tiny and the house was leaking during inspections due to torrential rain.

The kitchen features a number of timber cabinets for storage and new appliances

The kitchen features a number of timber cabinets for storage and new appliances

The house has three balconies which drove the price up exponentially (one pictured)

The house has three balconies which drove the price up exponentially (one pictured)

The median price for two-bedroom homes in Darlinghurst is $1.4million (bathroom pictured)

The median price for two-bedroom homes in Darlinghurst is $1.4million (bathroom pictured)

Mitchell Farah, founder of First Hand Real Estate, told Daily Mail Australia the country is seeing a ‘perfect storm’ of low interest rates, changing market standards and positive buyer sentiment.

‘Results like this condition buyers to see what they need to pay at this time but also establishes higher expectations for upcoming sellers,’ he said.

‘What we are hearing from many owners who consider selling is a fear that they might be priced out of their next purchase.’      

A real estate agent described the second bedroom (pictured) as tiny despite the home selling for $2.7million

A real estate agent described the second bedroom (pictured) as tiny despite the home selling for $2.7million

Founder of First Hand Real Estate says the country is seeing a 'perfect storm' of low interest rates, changing market standards and positive buyer sentiment

Founder of First Hand Real Estate says the country is seeing a ‘perfect storm’ of low interest rates, changing market standards and positive buyer sentiment



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