{"id":7057475,"date":"2026-09-05T10:06:24","date_gmt":"2026-09-05T10:06:24","guid":{"rendered":"https:\/\/som2nypost.com\/uncategorized\/leichhardt-home-described-as-a-dump-sells-for-over-1-8m\/"},"modified":"2026-09-05T10:06:24","modified_gmt":"2026-09-05T10:06:24","slug":"leichhardt-home-described-as-a-dump-sells-for-over-1-8m","status":"publish","type":"post","link":"https:\/\/som2nypost.com\/?p=7057475","title":{"rendered":"Leichhardt home described as a \u2018dump\u2019 sells for over $1.8m"},"content":{"rendered":"


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It was a freak event for anyone accustomed to the recent norm of Sydney auctions passing in with little interest from buyers.<\/p>\n

An uninhabitable Leichhardt terrace requiring more than $800,000 in works to bring it up to the standard of surrounding homes has sold under the hammer for $1.855m.<\/p>\n

The price for the three-bedroom home on Emily St<\/a>, which included an upstairs rental, was $355,000 above the $1.5m reserve and about $450,000 above the price guide.<\/p>\n

MORE: $500k off: Sydney suburbs with most discounted homes<\/a><\/b><\/p>\n

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\"Leichhardt<\/picture><\/div>\n
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The auction for the Leichhardt home attracted 18 bidders. Picture: Jane Dempster<\/p>\n<\/div>\n

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\"Leichhardt<\/picture><\/div>\n
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The home was up for sale for the first time in decades.<\/p>\n<\/div>\n

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The two-level home went to auction with a facade of rotting timbers and peeling paint. Inside, the kitchen ceiling was cracked and the walls were a mix of old decor and grime.<\/p>\n

There was a crowd of about 60 people, including 18 registered bidders, at the auction. <\/p>\n

For some context, close to half of the scheduled auctions in recent weeks were withdrawn from auction on account of too few bidders.<\/p>\n

Those auctions that did go ahead typically had two bidders.<\/p>\n

Selling agent Alexander George of Bradfield Badgerfox said the terrace was popular because it offered a \u201cblank canvas\u201d for renovators and builders to put their own design on the block.<\/p>\n

MORE: NSW housing market crashes to record low<\/a><\/b><\/p>\n

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\"Leichhardt<\/picture><\/div>\n
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The interior was described as \u201cuninhabitable\u201d due to mould.<\/p>\n<\/div>\n

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\"Leichhardt<\/picture><\/div>\n
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The agent estimated nearly $800,000 in works was required to unlock the full potential of the site.<\/p>\n<\/div>\n

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\u201cIt\u2019s a dump,\u201d he said. \u201cYou can\u2019t live in it as it is. There is mould upstairs. It\u2019s been closed off for a long time.<\/p>\n

\u201cIn this market, the properties that are doing well are either the really wealthy looking, best homes or they\u2019re on the complete other end of the spectrum.<\/p>\n

\u201cThis one had a lot of potential. It has an excellent corner position, a really good spot in Leichhardt.\u201d<\/p>\n

Mr George said about $800,000 was needed to unlock the full potential of the site, but a minimum $350,000 was needed to bring the home up to a liveable standard.<\/p>\n

Auctioneer Mark Daley received an opening bid of $1.2m and six of the registered bidders made offers.<\/p>\n

It is not known what the new buyer intends to do with the site. <\/p>\n

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\"Leichhardt<\/picture><\/div>\n
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The home sold under the hammer for $1,855,000.<\/p>\n<\/div>\n

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\u201cThere has been a lot more positivity around the market lately,\u201d Mr George said.<\/p>\n

\u201cIt might just be a spring thing, but people have come more to terms with the weaker market. They\u2019ve gotten over it, they\u2019ve adjusted. A pause in interest rate hikes has probably helped.\u201d<\/p>\n

The Leichhardt home was among circa 570 properties scheduled to go to auction this week across Sydney, a nearly 20 per cent drop in the volume of auctions recorded at this time last year.<\/p>\n

It\u2019s likely many sellers have become cautious of going the auction route as auction clearance rates have been around the 50 per cent mark \u2013 the sign of a buyer\u2019s market \u2013 since May.<\/p>\n

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13 Charles St in Ryde sold for $3.62m.<\/p>\n<\/div>\n

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Auctioneer Clarence White said one of the difficulties in trying to sell under the hammer in the current market was that buyers were over-estimating just how much of a bargain they could get.<\/p>\n

\u201cA large chunk of the buyer (pool) is just taking a roll of the dice with really low ball offers that are well below where the market is at,\u201d Mr White said. \u201cRealistic buyers are rare.\u201d<\/p>\n

A Hamptons style house in Ryde sold for $3.62m \u2013 $360,000 over reserve \u2013 after attracting eight bidders at auction.<\/p>\n

The home on Charles St <\/a>was Ray White selling agent Dion Verzeletti\u2019s personal home and he said there was considerable interest. \u201cThere\u2019s a sweet spot in the market right now if you\u2019re upgrading,\u201d he said. <\/p>\n

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There were eight bidders registered for the auction of this villa on Ada St in North Ryde.<\/p>\n<\/div>\n

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\u201cWe\u2019re moving to an area where prices have dropped 15 per cent, but in Ryde they\u2019ve dropped 8 per cent, so we\u2019re coming out ahead.\u201d<\/p>\n

A villa in North Ryde sold for $1.84m after attracting considerable interest from buyers seeking a cheaper entry point into the area.<\/p>\n

The auction was brought forward a week early on account of demand, with eight bidders registering for the Ada St home<\/a> with selling agent Kim Toyer-Uttley of McGrath-Ryde. <\/p>\n

The price was more than $200,000 over reserve. Ms Toyer-Uttley said bidding was \u201cspirited\u201d.<\/p>\n

\u201cProperties under $2m seem to be getting a lot more interest,\u201d she said. \u201cAnything even a little overpriced is struggling in this market.\u201d<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

It was a freak event for anyone accustomed to the recent norm of Sydney auctions passing in with little interest from buyers. An uninhabitable Leichhardt terrace requiring more than $800,000 in works to bring it up to the standard of surrounding homes has sold under the hammer for $1.855m. The price for the three-bedroom home […]<\/p>\n","protected":false},"author":1,"featured_media":7057476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[188274,88,177381],"tags":[8178,16005,1159,219725,12659],"dealstore":[],"offerexpiration":[],"class_list":["post-7057475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-south-wales","category-news","category-sydney","tag-1-8m","tag-dump","tag-home","tag-leichhardt","tag-sells"],"yoast_head":"\nLeichhardt home described as a \u2018dump\u2019 sells for over $1.8m - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/som2nypost.com\/?p=7057475\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leichhardt home described as a \u2018dump\u2019 sells for over $1.8m - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"It was a freak event for anyone accustomed to the recent norm of Sydney auctions passing in with little interest from buyers. 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