Dilapidated Strathfield Home Sells for $5.58 Million at Auction
A rundown five-bedroom home at 9 Birnam Gr, Strathfield, Sydney, sold for $5.58 million at auction. The property, part of a deceased estate, featured a neglected appearance, including grass on the roof and a pool described as a pond, and had not been lived in for at least a year. The listing agents, Jerrie Harris and Tarun Sethi of McGrath Strathfield, had a guide price of $4.6 million before the auction.
Despite its neglected appearance and extensive issues, a deceased estate in Strathfield fetched $5.58 million, significantly exceeding its guide price of $4.6 million.
Auction Details
Ten bidders competed for the property, which was ultimately purchased by a developer. Most interested parties reportedly sought to demolish the existing structure and rebuild. Restoring the home to a habitable condition was estimated to cost between $1 million and $2 million due to its age and structural issues, including a near-collapsed roof.
The winning bid came from a developer, reflecting widespread interest in demolishing the existing structure rather than undertaking the estimated $1-2 million in necessary repairs.
Market Context
The sale price significantly exceeds Strathfield's median house price of $4.29 million, which has increased by 11.1 percent in the last year. The high sale price of the property is primarily attributed to its land value and prime location within Strathfield, a characteristic often observed in Sydney’s eastern suburbs. Nearby properties on Victoria Street have sold for as much as $16.5 million, and a suburb record of $16.8 million was set on South St in 2024. The property's status as a freestanding home on a block not affected by heritage or conservation restrictions makes it particularly appealing for developers.
The sale highlights the strong market for land in prime locations like Strathfield, particularly for properties offering unrestricted development potential, driving prices well above the median.