When it comes to buying property, whether it’s your first home or an investment, we all want to get the best deal possible. We scrimp and save for years in order to get that perfect place; the one we can finally call our own.

So you can imagine how disheartening it is when you see a listing for a house that’s way out of your price range – especially when that house is in complete ruins!

Unfortunately, that’s exactly what happened to many Australians who were browsing through real estate listings recently and came across a property up for sale for a whopping $5 million.

The 1,530 square metre block of land located at 135 Wentworth Road, Strathfield, Sydney – almost half an hour from the city centre – was sold for $4.788 million just last year.

But since the house on the property was destroyed by a fire over a year ago, the owners are now trying to sling it for nearly $212,000 more!

The selling of the property with its burnt down house amid an affordable housing crisis has many Aussies talking. Credit: realestate.com.au

According to the listing on realestate.com.au, buyers have a ‘fleetingly rare opportunity’ to invest in this ‘exciting Inner West location’ and make some serious dough off of it.

The listing added: ‘This remarkable opportunity sits just moments from the thriving centre of Strathfield and an abundance of community spaces like parks and aquatic centres as well as essential amenities and shopping at Strathfield Plaza and much more.’

The real estate agents assigned to the property then tried to sweeten up the deal by saying there's potential to build two luxury homes or even a boarding house on the land (subject to council approval, of course).

While you have to give the real estate agents credit for making the best case for the property, you also couldn’t blame those in disbelief that it was ever for sale at all.

Despite the attempts to sell the place by amplifying the listing’s location, many Aussies called the offer out online.

'This isn't actually real right? Like this is a late April fools joke or satirical piece?' a person asked.

'Still obsessed with house prices and how I'll never own one,' wrote another.

The house along Wentworth Road once had 8 bedrooms and 4 bathrooms before a fire razed it. Source: Daily Mail UK/realestate.com.au

And another joked (we think): 'In times like these, squatting becomes a duty.'

This sale, which some have called ‘insane,’ comes at a time when the nation has a problem with housing, one aspect of which is having affordable homes low-income people could purchase.

Key Takeaways

• Australians have been left shocked by a real estate listing advertising a burnt down home the vendors are trying to sling for a whopping $5million.
• The Wentworth road house was sold for $4.788million in February last year, six months before it went up in flames and was left in the unliveable state it is today.
• According to the listing on realestate.com.au, the dilapidated pad offers buyers a 'fleetingly rare opportunity to add value in an exciting Inner West location'.
• Online social media users slammed the 'insane' property listing with one hoping it was a joke.

House prices in Strathfield have gone up 15.3% over the past year to a median value of $3.5 million, which only makes the $5 million sale of the Wentworth Road property all the more mind-boggling.

Speaking of listings that have people talking, be sure to check this other property up for rent that takes transparency to a whole new room — er, level.

A fire gutted the Wentworth Road property in August 2021 months after it was bought for $4.8 million. Credit: Twitter/7News Sydney

If you’re also feeling the pinch over the rising prices of things like rent, you may also want to check if you’re eligible for a cash boost from the Australian Government here.

So, what is your reaction to the sale of this property? If you had the money, would you shell out $5 million for it? Or would the burned down house on it be enough to turn you away? Let us know your comments and reactions below!

 

[johno cpfc]

No use complaining it's all about LOCATION LOCATION LOCATION.

 

[Happyjack]

When it comes to buying property, whether it’s your first home or an investment, we all want to get the best deal possible. We scrimp and save for years in order to get that perfect place; the one we can finally call our own.

So you can imagine how disheartening it is when you see a listing for a house that’s way out of your price range – especially when that house is in complete ruins!

Unfortunately, that’s exactly what happened to many Australians who were browsing through real estate listings recently and came across a property up for sale for a whopping $5 million.

The 1,530 square metre block of land located at 135 Wentworth Road, Strathfield, Sydney – almost half an hour from the city centre – was sold for $4.788 million just last year.

But since the house on the property was destroyed by a fire over a year ago, the owners are now trying to sling it for nearly $212,000 more!

View attachment 7709

The selling of the property with its burnt down house amid an affordable housing crisis has many Aussies talking. Credit: realestate.com.au

According to the listing on realestate.com.au, buyers have a ‘fleetingly rare opportunity’ to invest in this ‘exciting Inner West location’ and make some serious dough off of it.

The listing added: ‘This remarkable opportunity sits just moments from the thriving centre of Strathfield and an abundance of community spaces like parks and aquatic centres as well as essential amenities and shopping at Strathfield Plaza and much more.’

The real estate agents assigned to the property then tried to sweeten up the deal by saying there's potential to build two luxury homes or even a boarding house on the land (subject to council approval, of course).

While you have to give the real estate agents credit for making the best case for the property, you also couldn’t blame those in disbelief that it was ever for sale at all.

Despite the attempts to sell the place by amplifying the listing’s location, many Aussies called the offer out online.

'This isn't actually real right? Like this is a late April fools joke or satirical piece?' a person asked.

'Still obsessed with house prices and how I'll never own one,' wrote another.

View attachment 7708

The house along Wentworth Road once had 8 bedrooms and 4 bathrooms before a fire razed it. Source: Daily Mail UK/realestate.com.au

And another joked (we think): 'In times like these, squatting becomes a duty.'

This sale, which some have called ‘insane,’ comes at a time when the nation has a problem with housing, one aspect of which is having affordable homes low-income people could purchase.

Key Takeaways

• Australians have been left shocked by a real estate listing advertising a burnt down home the vendors are trying to sling for a whopping $5million.
• The Wentworth road house was sold for $4.788million in February last year, six months before it went up in flames and was left in the unliveable state it is today.
• According to the listing on realestate.com.au, the dilapidated pad offers buyers a 'fleetingly rare opportunity to add value in an exciting Inner West location'.
• Online social media users slammed the 'insane' property listing with one hoping it was a joke.

House prices in Strathfield have gone up 15.3% over the past year to a median value of $3.5 million, which only makes the $5 million sale of the Wentworth Road property all the more mind-boggling.

Speaking of listings that have people talking, be sure to check this other property up for rent that takes transparency to a whole new room — er, level.

View attachment 7707

A fire gutted the Wentworth Road property in August 2021 months after it was bought for $4.8 million. Credit: Twitter/7News Sydney

If you’re also feeling the pinch over the rising prices of things like rent, you may also want to check if you’re eligible for a cash boost from the Australian Government here.

So, what is your reaction to the sale of this property? If you had the money, would you shell out $5 million for it? Or would the burned down house on it be enough to turn you away? Let us know your comments and reactions below!

People forget that it is the LAND that holds most of the value, not necessarily the buildings.
If the house was removed, the price would still be the same.
Cast an eye over rateable values and note both the land, and then the improvements

 

[Ricci]

After buying and removing the remains of the original house you're hardly likely to put a lowly 3 x 1 on it so only seriously cashed up buyers need apply!

 

[RTS]

I lived near Strathfield and worked in the city in the 1970s. It certainly wasn't a sought-after area at that time.
I remember terrible traffic and train delays.

 

[Luckyus]

When it comes to buying property, whether it’s your first home or an investment, we all want to get the best deal possible. We scrimp and save for years in order to get that perfect place; the one we can finally call our own.

So you can imagine how disheartening it is when you see a listing for a house that’s way out of your price range – especially when that house is in complete ruins!

Unfortunately, that’s exactly what happened to many Australians who were browsing through real estate listings recently and came across a property up for sale for a whopping $5 million.

The 1,530 square metre block of land located at 135 Wentworth Road, Strathfield, Sydney – almost half an hour from the city centre – was sold for $4.788 million just last year.

But since the house on the property was destroyed by a fire over a year ago, the owners are now trying to sling it for nearly $212,000 more!

View attachment 7709

The selling of the property with its burnt down house amid an affordable housing crisis has many Aussies talking. Credit: realestate.com.au

According to the listing on realestate.com.au, buyers have a ‘fleetingly rare opportunity’ to invest in this ‘exciting Inner West location’ and make some serious dough off of it.

The listing added: ‘This remarkable opportunity sits just moments from the thriving centre of Strathfield and an abundance of community spaces like parks and aquatic centres as well as essential amenities and shopping at Strathfield Plaza and much more.’

The real estate agents assigned to the property then tried to sweeten up the deal by saying there's potential to build two luxury homes or even a boarding house on the land (subject to council approval, of course).

While you have to give the real estate agents credit for making the best case for the property, you also couldn’t blame those in disbelief that it was ever for sale at all.

Despite the attempts to sell the place by amplifying the listing’s location, many Aussies called the offer out online.

'This isn't actually real right? Like this is a late April fools joke or satirical piece?' a person asked.

'Still obsessed with house prices and how I'll never own one,' wrote another.

View attachment 7708

The house along Wentworth Road once had 8 bedrooms and 4 bathrooms before a fire razed it. Source: Daily Mail UK/realestate.com.au

And another joked (we think): 'In times like these, squatting becomes a duty.'

This sale, which some have called ‘insane,’ comes at a time when the nation has a problem with housing, one aspect of which is having affordable homes low-income people could purchase.

Key Takeaways

• Australians have been left shocked by a real estate listing advertising a burnt down home the vendors are trying to sling for a whopping $5million.
• The Wentworth road house was sold for $4.788million in February last year, six months before it went up in flames and was left in the unliveable state it is today.
• According to the listing on realestate.com.au, the dilapidated pad offers buyers a 'fleetingly rare opportunity to add value in an exciting Inner West location'.
• Online social media users slammed the 'insane' property listing with one hoping it was a joke.

House prices in Strathfield have gone up 15.3% over the past year to a median value of $3.5 million, which only makes the $5 million sale of the Wentworth Road property all the more mind-boggling.

Speaking of listings that have people talking, be sure to check this other property up for rent that takes transparency to a whole new room — er, level.

View attachment 7707

A fire gutted the Wentworth Road property in August 2021 months after it was bought for $4.8 million. Credit: Twitter/7News Sydney

If you’re also feeling the pinch over the rising prices of things like rent, you may also want to check if you’re eligible for a cash boost from the Australian Government here.

So, what is your reaction to the sale of this property? If you had the money, would you shell out $5 million for it? Or would the burned down house on it be enough to turn you away? Let us know your comments and reactions below!

No, I wouldn't, I don't believe that any property is worth that much let alone a block of land, unless it was the size of Tasmania, also it doesn't matter how bedrooms or bathrooms you have, you can only live in or crap in one at a time. It's like the so-called gentry trying to be something they're not, they are no different from you or me other than the fact they have more money and somewhat dubious prestige, but still put their knickers on the same as you do, One leg at a time.

 

[mylittletibbies]

The owners must be living in lala land.
A property that size would cost an absolute fortune to have demolished and removed.
And then you need to build a new one.
Only someone with more money than sense would even consider it.
No land, I don't care where it is, is actually worth these ridiculous prices.
The only reason people are priced out of the market is because we, the ordinary people, have been prepared to be stupid enough to pay these crazy amounts.
After all anything is only worth what people are stupid enough to pay, so who is to blame.