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Real Estate

Frank surprise at dilapidated Sydney house on market for $3.6 million

Frank surprise at dilapidated Sydney house on market for $3.6 million

A dilapidated house with missing floorboards and a collapsed ceiling has been marketed in Sydney for $3.6 million.

Located in Darlinghurst’s Surrey Street on a 280sqm site, the five-bedroom property was described as “a true blank canvas”.

The online listing from agent BresicWhitney read: “The sprawling residence is a rare chance to craft your dream home from a piece of Inner Sydney history.”

The house was last sold in 1990, according to Domain.

The listing has been met with raised eyebrows, with one woman joking on Twitter that buyers should not expect to have “a floor AND a ceiling” amid the economic downturn.

“It’s going to be beautiful after someone spends $1.5m rebuilding it,” one wrote.

Another person wrote on Reddit: “It shocks me how many run down places in Sydney there are... All million dollar run downs, it’s crazy.”

However, others pointed out that the land size and the location would be worth the price.

“Five bedrooms with a courtyard and two-car garage in the middle of Darlinghurst. Yeah, $3.6m is about right,” one commented.

“Yeah it’s bloody expensive. But what do you expect to pay in the centre of the biggest city just a few minutes’ walk from the CBD … People are paying that much for houses of that size in the ‘burbs.”

Sydney ranks among the top three least affordable housing markets in the world alongside Hong Kong and Vancouver, according to the 15th Annual Demographia International Housing Affordability Survey.