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12 November 2018

First Home Buyers Push Price Of Marrickville Unit to Boom Levels

First home buyers push price of Marrickville unit to boom levels

11/384 Illawarra Rd, Marrickville sold for way above expectations.

TWO first home buyers fought for a Marrickville apartment that sold at auction this morning for $862,000, which was $52,000 more than an almost identical apartment that sold at the peak of the boom.

The result for the two-bedroom, two-bathroom apartment with off-street parking and a city view at 11/384 Illawarra Rd was also $72,000 above the written reserve.

The balcony at 11/384 Illawarra Rd, Marrickville

Before auctioneer Emmanuel Comino, bidding started at $725,000 and rose in $25,000 increments to $775,000.

It then dropped down to $10,000, $5000 and finally $1000 bids.