Marrickville, Gorokan and Toukley are among the busiest of Sydney’s cheapest suburbs, according to CoreLogic RP Data.
For houses, Marsden Park is the cheapest Sydney suburb, with a median price of $119,310. However, the suburb only saw seven homes sold in the past year. Far busier was Gorokan, with 241 houses sold in 2014. With a median house price of $306,991, it is the fourth cheapest suburb in Sydney.
3 Bertha Street in Gorokan sold for $310,000 last week.
The two bedroom house on a 550 square metre plot came with development approval for a duplex. The vendors paid $125,000 less when they purchased the home in 2007 for $185,000.
56 Gilbert Avenue, which was marketed towards first home buyers, sold for $300,000 in mid-January (pictured below).
The three bedroom villa has been recently renovated. The vendors, who paid $225,000 for the home in 2009, used it as an investment property. It was advertised to rent at $315 per week in 2013.
Marrickville has the fifth-lowest median price of any suburb within 10 kilometres of the Sydney CBD. With 213 homes sold over the last year, it is also the busiest of the 10 cheapest Sydney inner-city suburbs (see table below).
HOUSES: GREATER SYDNEY
HOUSES: <10KM FROM CBD
Source: CoreLogic RP Data.
CoreLogic RP Data recorded Marrickville’s 2014 median value as $892,297 for 2014.
167 Sydenham Road in Marrickville sold for $890,000 last week. The full brick, three bedroom house had been held by the vendors for almost 28 years – they paid $74,500 in 1987.
In November last year, buyers paid $900,000 for a corner block two bedroom brick home at 39 Gladstone Street in Marrickville. The house was purchased by the vendors for $615,000 in 2008, with the home appreciating 46% in six years.
For units, Toukley in the Central Coast was one of the busiest of the cheaper outer suburbs. Toukley had a median of $265,887, making it the sixth cheapest Sydney suburb for units. This one sold for $259,000 in September.
2/39 Victoria Avenue in Toukley (pictured above) is a single storey two bedroom unit with an enclosed sun room and a courtyard.
UNITS: GREATER SYDNEY
UNITS: UNDER 10 KILOMETRES FROM THE CBD
For inner city units, the busiest of the 10 cheapest suburbs was again Marrickville, with 268 units sold last year. The suburb is the 10th cheapest in the Sydney inner-city for units, with a median sale price of $508,813.
For that price, a buyer might get an apartment like one at 9 George Street (pictured below), which sold for $509,000 last month.
The one bedroom offering was one of multiple renovated apartments at the 9 George Street complex offered.
14/416 Marrickville Road (pictured below) was another one bedroom unit that sold around the median price, for $507,500.
The apartment at the rear of its block last traded at $196,000 in 2005.