Smallest House Sells Fast
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It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia.
And welcome to another episode of The Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcasts from. and it's another tuesday the 24th of may for 2022 and coming up in just a moment we're talking to a couple of different people dion is here to tell us about a very small house in melbourne the other day that was brought to market and sold very quickly and the key word is small especially when the neighbors thought that it was a shed that was being sold And we're also going to be talking with Jackie Wang, a real estate agent in the inner west of Sydney suburb of Ashfield, which is fast becoming a talking point. It is changing and starting to get a lot of attention and we'll find out why that is.
But first, let's have a look at your weather around Australia.
It's the main centre forecast with propertybuyer.com.au.
And first to Sydney, expecting some more rain today with a high of 20 degrees. Melbourne, picture perfect, blue skies and sunshine with 19. Brisbane, more showers, expecting a high of 22 degrees. And in Perth, showers with a possible early morning storm and your high today, 20 degrees.
Enjoy your morning coffee. Wake up every morning to The Real Estate Podcast.
And you might have heard this the other day from Footscray, the smallest house. Well, it might be possibly the smallest house in Victoria. I don't know. We should get the agent on to tell us a little bit more about this. Dion Dada, a very good morning to you. Welcome to The Real Estate Podcast.
What is the significance of the smallest house sold in Melbourne?
Good morning and thank you so much for having me on this morning. It's a great pleasure.
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, absolutely. Look, you're right. It was listed and 48 hours later, we had the under office sticker up. So it was a very quick turnaround, very, very small property. I think it had a nine metre frontage, 188 square metres, as you said, and it was snapped up pretty quick.
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.
Yeah, and location was everything here. It was in one of the better spots of Footscray. Amazing proximity to shops, to cafes, to restaurants. So it was a no-brainer for the buyer when he saw it. He actually is renting in a parallel street. He couldn't go past it.
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.
Yeah, that's right. That's right. I don't think the home was of too much appeal. I would call it more so a shack than anything. There is a tenant in there at the moment.
Why is Ashfield becoming a trendy suburb in Sydney?
So he is living in there and it is getting a good rental income, $265 per week. So the owner is going to speak to his architect and, you know, build his dream home there. I guess that's the smallest house you've ever sold, Dion? Oh, absolutely. Without a doubt. It's not too many that I've ever seen that come close to this, whether they're units, whether they're townhouses, let alone a house. So it is very unique. And driving through the streets of Footscray, I've never seen anything like it.
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.
No problem. Thank you so much for having me. It's been great.
Informing you on real estate. It's the Real Estate Podcast.
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.
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