Condition of $1.7m Sydney property for sale divides Aussies: 'So bad' – Yahoo Finance Australia

Get Fully Briefed with Yahoo Finance, delivered straight to your inbox.
A woman who has been property hunting in the inner-eastern suburbs of Sydney has provided a peek into what $1.7 million can get you in the area, which – as she unfortunately discovered – is not much.
"We have been house hunting in the eastern suburbs of Sydney and it has not been good," the woman told viewers in a 39-second video uploaded on TikTok.
"I, at this point, have been telling my husband that this is what $1.7 million gets you in Sydney, Australia: two random staircases, bathroom on one staircase and the bedrooms on the other side," the TikToker narrated as she took viewers through the house, which showed an old bathroom and paint peeling off the walls and ceiling in various sections of the house.
Also read: Millions of Aussies are moving: 'Rate rises hit home'
Also read: Affordable homes reach record low
Also read: Wealthy or poor: The shocking truth about your neighbours
"An unstable balcony. I wouldn't recommend going on that, and I said I wouldn't go on if you paid me – and of course there was that sign," she said, referring to a sign on the balcony door that reads: "Unstable Balcony: Access at your own risk."
The woman continued and walked into an old-fashioned kitchen before heading outside to highlight a curious feature.
"Outside is this … decrepit old bathroom that's a little spooky," she said.
Panning the camera around the backyard, the woman revealed it was something they could work with and that there was a park right behind it, until she discovered an old oven sitting in the yard.
At the end of the clip, the woman gave her verdict: "I don't know you guys, it was so bad for the price."
The video received a mixed reaction from viewers, who were quick to point out that $1.7 million for a house in Sydney's eastern suburbs was a pretty good deal, even if the property did require extensive renovations.
"To be fair, that's a 130-year-old terrace requiring a complete redo. It would be worth $3m-ish after a long and risky reno if it had a garage," someone pointed out before clarifying what those risks would be.
"It's 130 years old, so hard to predict what problems could occur. This area has strict planning laws and litigious neighbours. Building budget."
Another commented: "Honestly, that's a bargain for the eastern suburbs idk what you were expecting."
"The land value is $1.8M," a third commenter estimated.
Other TikTokers suggested the woman and her family look elsewhere.
"You need to go out further. It's cheaper out south west and growth is insane year to year," one person commented.
Another suggested: "If you want cheaper beaches, go either northern beaches or the shire, half the price of the eastern suburbs."
"You need to live in Sutherland shire area. It's not far away and sooooo much better," someone else recommended, while others suggested moving out of Sydney altogether, suggesting places such as Perth and Brisbane, where house prices were cheaper.
The house, which is being advertised by property agent McGrath, is located in Paddington, an upscale inner-Sydney suburb best known for its well-preserved Victorian neighbourhood where the median house price is pegged at more than $3.1 million.
The terrace is listed for auction on Domain, with a minimum guide of $1.7 million.
Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.
Westpac is expecting a bumper Black Friday this year as spending remains strong despite increased cost-of-living pressures.
Here are four emotional spending traps to avoid and stay financially safe this Black Friday.
Police are warning Aussies about a new cryptocurrency wallet scam that attempts to steal your money. Here’s what to look out for.
The Australian Taxation Office is introducing new rules for these Aussies, with hefty fines for those who break them.
Shoppers are at risk of losing hundreds of dollars to illegitimate retail sites this summer. Here's what you should know.
Harvey Norman has announced solid first quarter sales growth in Australia and even better numbers in Malaysia, where it is planning a big expansion.Sales revenue for Harvey Norman's Australian retail franchise outlets rose by almost nine per cent for the three months to October 31, while Malaysian sales were up 38.
Workers in these industries are getting the biggest pay rises, new data has found.
These Aussies will be able to earn more without having their Centrelink payments impacted.
Working from home can sound good in theory but can be tricky at times. Nicole Pedersen McKinnon talks to the experts to get their top tips on how to do it best.
The top jobs on Airtasker have been revealed. Here’s how much you can earn.
The ASX is expected to rise today, flexible work is increasing and the Black Friday sales kick off. This is your Friday morning wrap.
Retailers have been named and shamed for a lack of transparency on how they treat their workers. Here’s which brands made the “naughty or nice” list.
Here's how I've made working from home work for the past 10 years.
Fund manager Perpetual says it has stopped the sale and distribution of two funds the competition watchdog says might be too risky for retail investors.The Australian Securities and Investments Commission on Friday issued an interim stop order on Perpetual preventing it from offering or distributing the funds to retail investors for three weeks.
Aussie workplaces are moving towards flexible working for employees, new research has found, with staff able to choose how, where and when they work.
Virgin Australia flight sale has released half a million heavily discounted tickets on the eve of Black Friday, starting as low as $55 dollars one way.
The ASX is likely to slow today after closing at a six-month high yesterday, studies show there is a mismatch between workers’ skills and vacant jobs and Telstra has been slapped by the communications watchdog. This is your Thursday morning wrap.
The ASX's fourth-biggest oil producer is cashed up and eyeing potential acquisitions and its possible first-ever capital returns to shareholders.Karoon Energy had $US180 million ($A266m) in cash and cash equivalents at the end of September, despite capital intensive drilling programs, with its balance sheet boosted by better-than-expected production and high oil prices.
Millions of Aussies are considering switching their superannuation to a more sustainable option, new research has found.

source