May 18, 2025
The Noticer

An aging two-bedroom house has sold for $1.9 million despite being 45km from the centre of Sydney, which is now the world’s second most unaffordable city after Hong Kong.

The red-brick house on Australian Street in St Marys, a working class suburb with crime rates double the state average in the city’s far west, set a postcode record at auction on Saturday, agent Peter Diamantidis from Ray White told 7 News.

The successful bidder, Mr Tong, said he was “feeling great” after securing the home, which is on a 1,208sqm block.

“Sydney is becoming unaffordable, but you look at it now, we’ve just sold for close to $2 million, maybe in 10 more years it might be $4 million,” Mr Diamantidis said.

The sale comes after a new report found Sydney is now more unaffordable than any other city in the world apart from Hong Kong, with Adelaide in sixth, Melbourne ninth, Brisbane 11th and Perth 15th.

more

https://www.noticer.news/sydney-unaffordable-city-st-marys-sale/