Crumbling Sydney home with old kitchen and a peeling ceiling sells for an eye-watering $1.6million

Crumbling Sydney home with an ancient kitchen, torn up carpet and a peeling ceiling sells for an eye-watering $1.6MILLION – and the sale has prompted a VERY strong reaction

  • Run down home in Sydney’s north-west has sold privately for nearly $1.7million
  • Among the ‘features’ are a filthy kitchen, decades old bathroom & torn up carpet
  • ‘Crazy’ price is yet another example of Sydney’s very steep property market

A dilapidated home with a run-down kitchen, weathered carpet and a ceiling which is peeling away had sold for almost $1.7million.

The house, on Bowden St, Ryde in Sydney’s north-west, was snapped up for a staggering $1.68million, prompting a frenzied response on social media.

Michael Dowling from McGrath Estate Agents posted news of the sale on June 12 via Facebook, in yet another example of Sydney’s ever-swelling property prices.

He revealed the residence, which sits on 500 square metres, was sold off market in what was ‘an amazing result for our clients.’

The state of the kitchen left many people speechless on social media, with the sale off market

'A renovator's dream' - this house, in Bowden St, Ryde in Sydney's north-west has sold for almost $1.7million

‘A renovator’s dream’ – this house, in Bowden St, Ryde in Sydney’s north-west has sold for almost $1.7million

The bathroom (pictured) has also seen better days, with the sink and bath seemingly from a different decade

The bathroom (pictured) has also seen better days, with the sink and bath seemingly from a different decade

Images of the house show an ancient kitchen which wouldn’t look out of place in the 1960s, a very outdated bathroom, torn up carpet in a living room as well as another tiny room where the ceiling urgently needs a lick of paint.

A photo of the backyard also reveals it has seen better days. It is unknown when tenants or owners last lived in the house.

The sale has generated more than 6,000 comments on social media, with the majority in disbelief the run down residence sold privately for such a whopping amount.

One woman spoke for many when she stated ‘prices like this make it no wonder many people can’t buy a house (in Sydney) and the developers win again.’

Another said the purchase was ‘absolutely outrageous… but that is the price one pays these days for living in the most desirable city in the world.’

Late last month, a fibro home in Sydney’s blue collar western suburbs sold for a whopping $1.81million – baffling both the real estate agent and delighted home owner.

The 961 square metre block, on Gidley St in St Marys, was on the market for $890,000, only to be snapped up for double the reserve price.

Records revealed it was one of the highest prices ever paid in St Marys and surrounding suburbs for a single block minus high density zoning.

The median house price in the working class suburb is $670,000, with the owner paying close to $450,000 for the property in 2012.

House prices in Sydney are continuing to surge, rising by 11.2 per cent since January, according to CoreLogic data.

The living room 'features' torn up carpet and wallpaper from many years ago - it didn't stop the house selling for almost $1.7million in Sydney's north-west

The living room ‘features’ torn up carpet and wallpaper from many years ago – it didn’t stop the house selling for almost $1.7million in Sydney’s north-west

The backyard has 'potential' according to many on social media, who were shocked the run down home sold for a whopping $1.68million in Sydney's north-west

The backyard has ‘potential’ according to many on social media, who were shocked the run down home sold for a whopping $1.68million in Sydney’s north-west