Craig

Welcome to The Real Estate Podcast.

So tell us a little bit about this one because not very wide, I think five metres wide, seven metres deep, a very small section size, 188 square metres of land.

So tell us what happened because it was listed the other day and it did sell, didn't it?

Yeah, $699,000 was the asking price.

And I see that Footscray's median house price is $962,000 and a little bit of change.

So obviously the purchaser did their sums and thought there was some value in this.

That's right.

I was having a look at it, at the picture of it, and I guess the land is obviously crucial here.

And if you have a really good architect, he might be able to really work that 188 plot for you.

Good on you, Dion.

Well, I'll let you get back to it.

Have a great Tuesday.

Thanks for sharing the small shack story with us this morning.

Well one of the phenomenons of the property boom has been the way that suburbs around Australia have changed and in some cases radically changed.

Even those with great forecast abilities have been surprised just how quickly some of these suburbs have been transformed into hotly contested properties in every state around the country.

and supply and demand will do that for a runaway booming market over the last couple of years.

And it seems that every week on the Real Estate Podcast, it seems that we're talking about one of these areas.

Either it has set a new suburb record price,

or the popularity of a suburb has started to take off or even exploded.

And one of those areas are in the inner west of Sydney called Ashfield, which has easy access to the CBD