While the worst of the property downturn may be over, it’s still got some way to recover.
Despite that, Sydney property prices continue to stun Australians – and the price for this two-bedroom house located in Harbour City’s inner-west is hard to believe.
Related story: Aussie property markets are finally on the move
Related story: Here's the truth about where property prices are headed
The property, located on 179 Denison Street, Newtown and sitting just 127 square metres, has certainly seen better days.
The photos from realestate.com.au’s listing reveals crumbling, rotting walls that barely hold together an outdoor bathroom few people would want to clean themselves in.
The ‘backyard’ resembles more of a construction site, and glimpses of the living room or bedroom don’t leave much room for inspiration.
The listing describes the house as a “charming timber cottage” but acknowledges the need for “a comprehensive renovation or rebuild”.
“It overflows with creative possibilities and is certainly not for the faint hearted.
“Timber lining boards throughout would certainly respond to reincarnation and could be used creatively, elsewhere,” the listing said.
However, despite the house’s appearance, property agent Charles Bailey said the house had received a high volume of interest and expected the buyer to demolish the property.
"We are expecting either side of $900,000," he told 7NEWS.
That’s higher than the estimated price of this three-bedroom Melbourne property with high ceilings, natural light and an entertaining deck that Australians were gawking at all week.
The Newtown house will go up for auction on Saturday 24 August at 11:30am.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.