Double the money in 5 years

Fifty Shades of Grey publisher’s Cherrybrook home sells for record $2.208 million - realestate.com.au

Cherrybrook home sold for 2.2m

 

Deduct reno costs and I don't think she's necessarily doubled her money if it was fully paid off. Still, a great result.

 

Must be newsworthy as it was a street record (ignore the fact that it is probably the best house in the street/refurbished/biggest land etc).

Was it also a record when the vendor bought it in a depressed Sydney market 5 years ago?

 

No idea about relative price 5 years ago. My sister might know though.

However everything's now expected around this price (at least from about 1.5mil), Cherrybrook is getting the station soon, they have Australia's best maths teacher "Mr. Woo" (Australian story tomorrow and this weekend) in the local high school, a local primary has been crowned back to back National Schools Cheerleading champions...

Reno might have been up to say 200k, depending on what was done. Its still great result.

 

It was on Monday night and on iview - his videos on wootube are great.

 

I bought an IP in Woy Woy in 2012 for $285k on nearly 700m2, now you can't find anything of that size for under $500-550k.
No reno either and a yield of 7.8% on the purchase price.

I wish I'd bought another one of those rather than my crappy Rockhampton IPs the following year!