A NEW real estate price record has been broken in yet another day in Sydney’s crazy property market.
A five-bedroom, three-bathroom home in Ryde, 34 John Miller Street, has broken a record for the most expensive home under 1000 square metres to be sold in the northwest suburb, after selling under the hammer for $3,005,000.
Selling agent Ben Boutros from Ray White North Ryde told news.com.au that the previous price record for a home under 1000 square metres in the area was $2,834,000.
The reserve price for John Miller Street was set at $3 million, with Mr Boutros saying he didn’t initially expect it to reach the optimistic vendor expectations. He recalls only one other similar home to even hit the $3 million mark in the Ryde area, and that was on a 1,800 square metre block.
However, five registered bidders provided fierce competition and the home was sold above-reserve in just 20 bids. It was sold to a local owner-occupier.
And Mr Boutros expects the suburb will continue to outperform in 2017 due to a “lack of housing stock”.
The record-breaking home also features four car spaces, landscaped gardens, spotted gum polished timber floorboards and a gas heated pool.