The of Sydney house prices craze continues.
This three-bedroom house in Darlinghurst in Sydney has sold for $1,200,000.
No biggie, right? Nice suburb, super expenno – why is this even news? Well, probably because the house appears to be a rundown piece of garbage, and doesn’t even have a kitchen, or a working bathroom.
ONE POINT TWO.
YAY, HOUSING BUBBLE!
And here’s some additional soul-destroying information from the ABC: good bloody luck renting in Sydney, too!
The Rental Affordability Index has stated many a time that Sydney’s the most unaffordable city in Australia for renters – everyone knows this. But now, a new report has shown that a whopping 40% of households in Sydney were essentially “locked out” of rental affordability.
Adrian Pisarski from housing advocacy group National Shelter said this:
“There is effectively no affordable rental housing for people in that bottom 40 per cent.”“We knew the situation was bad, but I don’t think we understood properly the extremity and depth of the problem.”
Credit: Pedestrian TV