A first home buyer bought a 60-square-metre Erskineville home for $1,632,000.A run-of-the-mill Lane Cove house has sold for $3,517,500 to a young family renting in the area.started with a guide of $2.7 million that was revised to $2.9 million due to strong interest.
“There were definitely some developers there interested in the land, but they almost didn’t get a chance to bid,” Bennett said. The winning buyer was renting in neighbouring Newtown. The direct underbidder was another first home buyer who was renting in Marrickville. “Buyers are extending themselves to get into the market now rather than waiting in anticipation of rate drops, which is when the market really picks up.”
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