This rundown property in Armadale has no kitchen or toilet but that didn’t stop 30 prospective buyers making offers more than $70,000 above the $289,000 asking price.
Prospective homeowners hoping to crack into Perth’s red-hot housing market are snapping up even the most dilapidated properties in a bid to get their foot in the door.sold for $10,800 in 1993. It was listed for sale last month for $289,000 and attracted 30 offers before settling at $360,000.
“In the south, similar suburbs would be those such as Parkwood, Langford, Ferndale, Redcliffe, and Lynwood.” “Buyers should take heed though, these are still generally the weakest markets in Perth and will be the most exposed to downside price pressure in the future.”It sits on a 508-square-metre street front corner block just metres to Beaufort Street, and is one of the few left giving buyers the opportunity to start from scratch.
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