A dilapidated home in the western Sydney suburb of Mount Druitt has sold for a record $2million
Share 'It was on a corner block with R2 zoning and developers know anything they build on the site will resell for a good price at the moment,' Agent Sid Elias told realestate.com.au. R2 zoning is land comprised mainly of low density housing, which allows for housing and a variety of community facilities or services such as child care centres, dwelling houses and seniors housing. LJ Hooker Colyton/St Clair had expected a similar result to the previous Mt Druitt R2 property record set in May, but this sale smashed it by about $600,000 as 32 bidders fought it out for the hot property.
Source: dailymail.co.uk