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Saturday, June 3, 2017

Lebensraum


Unit 9, 155 Blues Point Road, McMahons Point, sold on 27 May 2017 for $908,000
previously sold in November 2010 for $510,000 - see here

 

Real estate in Sydney seems to have lost touch with reality - or should that be realty? Here's irrefutable proof: a one-bedroom unit at 155 Blues Point Road in McMahons Point in Sydney's Lower North Shore recently sold for $908,000 !

Why my interest in this particular unit? Two reasons:

  • back in 1985 I lived right next door in Unit 6 at 153 Blues Point Road in a similarly-sized one-bedder (albeit mine was facing the road and had no 'water glimpses' across the rooftops to what's known as the 'Coathanger', and that other thing that looks like an open box of tissues or, if you want to be generous, something that's about to set sail);
  • right now here at "Riverbend" I'm hunkered down in my lounge-room to stay close to the fireplace, and this lounge-room, which is 8.8 metres long and 5.2 metres wide, is larger than the total floor area - kitchen, bathroom, and hallway included - of that unit in Sydney.

 


Click here for a street view. On the top floor, hidden behind the tree's green canopy,
are my unit's lounge and bedroom windows

 

This illustrates the largeness of my lounge-room or the smallness of that Sydney unit, take your pick, but what it quite definitely illustrates is how far out on a limb Sydney real estate prices have gone, when 43 square metres of 'Lebensraum' sell for almost a million dollars.

That's $21,000 a square metre! Welcome to Sydney's un-real estate!


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