PHOTO: Real estate agent, Shannan Whitney from Bresic Whitney Estate Agents in Darlinghurst, said the property sold an hour after the auction
The owners of this Sydney home turned down a $2 million profit when it went under auction before finally agreeing to a record sale price
Social media users have described the auction of a Sydney house as a “tragedy” and “ridiculous”, after it was purchased for $2.2 million in 2018 and was passed in at auction for $4.23 million.
The four bedroom, two bathroom terrace house in the inner west suburb of Newtown was described by the real estate listing as an “architect-designed character residence” that has never been lived in after being “completely rebuilt”.
A social media user described the situation as “Sydney Real Estate: A Tragedy In Three Acts”, which was accompanied by a picture of how much the house sold for in 2018, the price guide and where the bidding stopped before the house was passed in.
But the property agent confirmed to news.com.au that the home was sold after the auction following more negotiations between the highest bidder and the owners.
Sydney Real Estate: A Tragedy In Three Acts pic.twitter.com/aA9DnZ3HyI
— Byron Kaye (@byronkaye) July 17, 2021
Social media users were outraged by the difference in house price in just two years since it was purchased.
“I’m unsure this Reno doubled the value. Toilet brought inside; undercover parking, bigger kitchen, but is it $2m worth???” said one man.
“Jesus. How are my kids ever going to be able to afford their own home in this country? (Answer: they won’t. And that’s not fair),” wrote another.
“But I’m sure it’s the avocado toast keeping the kids out of the real estate market,” quipped one user.
The kitchen area opens up into the backyard and the transformation of the kitchen. Picture: realestate.com.au Source: Supplied
The kitchen before it was renovated. Picture: realestate.com.au Source: Supplied
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