Yahoo Finance Condition of $1.7m Sydney property for sale divides Aussies: 'So bad'
A woman who has been property hunting in the inner-eastern suburbs of Sydney has provided a peek into what $1.7 million can get you in the area, which - as she unfortunately discovered - is not much.
"We have been house hunting in the eastern suburbs of Sydney and it has not been good," the woman told viewers in a 39-second video uploaded on TikTok.
"I, at this point, have been telling my husband that this is what $1.7 million gets you in Sydney, Australia: two random staircases, bathroom on one staircase and the bedrooms on the other side," the TikToker narrated as she took viewers through the house, which showed an old bathroom and paint peeling off the walls and ceiling in various sections of the house.
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"An unstable balcony. I wouldn't recommend going on that, and I said I wouldn't go on if you paid me – and of course there was that sign," she said, referring to a sign on the balcony door that reads: "Unstable Balcony: Access at your own risk."
The woman continued and walked into an old-fashioned kitchen before heading outside to highlight a curious feature.
"Outside is this ... decrepit old bathroom that's a little spooky," she said.
Panning the camera around the backyard, the woman revealed it was something they could work with and that there was a park right behind it, until she discovered an old oven sitting in the yard.
At the end of the clip, the woman gave her verdict: "I don't know you guys, it was so bad for the price."
A 'steal'
The video received a mixed reaction from viewers, who were quick to point out that $1.7 million for a house in Sydney's eastern suburbs was a pretty good deal, even if the property did require extensive renovations.
"To be fair, that's a 130-year-old terrace requiring a complete redo. It would be worth $3m-ish after a long and risky reno if it had a garage," someone pointed out before clarifying what those risks would be.
"It's 130 years old, so hard to predict what problems could occur. This area has strict planning laws and litigious neighbours. Building budget."
Another commented: "Honestly, that's a bargain for the eastern suburbs idk what you were expecting."
"The land value is $1.8M," a third commenter estimated.
'Go out further'
Other TikTokers suggested the woman and her family look elsewhere.
"You need to go out further. It's cheaper out south west and growth is insane year to year," one person commented.
Another suggested: "If you want cheaper beaches, go either northern beaches or the shire, half the price of the eastern suburbs."
"You need to live in Sutherland shire area. It's not far away and sooooo much better," someone else recommended, while others suggested moving out of Sydney altogether, suggesting places such as Perth and Brisbane, where house prices were cheaper.
The house, which is being advertised by property agent McGrath, is located in Paddington, an upscale inner-Sydney suburb best known for its well-preserved Victorian neighbourhood where the median house price is pegged at more than $3.1 million.
The terrace is listed for auction on Domain, with a minimum guide of $1.7 million.
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