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Dilapidated Sydney home expected to fetch $2 million at auction


An extremely dilapidated house in Sydney’s Enfield is anticipated to attract bids around the $2 million mark at an auction this weekend.

Located at 21 The Parade, Enfield, the property features three bedrooms and one bathroom but is currently considered structurally unsound for habitation, with significant damage including holes in the roof, deteriorating walls, and widespread black mould.

Despite its poor condition, the property’s major appeal lies in its land value, occupying a 570sqm block with a 13-metre frontage.

Interest in the auction has been high, with 37 contracts issued to potential buyers and around 20 expected to register on the day of the auction. The property gained significant attention on social media, with a post by influencer Jason Ballo achieving over one million views on Instagram and more than eight thousand shares.

The auction is scheduled for Saturday, 29th June 2024, at 3pm, preceded by an open house beginning at 2.30pm. It will be conducted on-site by Richard Baini, the director of Richard Matthews Real Estate, with a sizable crowd of local spectators predicted to attend.

Matthew Blackmore, an agent from Richard Matthews Real Estate, is representing the listing.

This property presents a unique opportunity for buyers to invest in a sizeable block of land in a coveted part of Sydney’s Inner West, with potential for renovation, reconstruction, or development subject to council approval. The location is also highlighted for its lifestyle and educational advantages, being within a short distance of various popular eateries, shops, parks, and aquatic centres, as well as several prestigious local schools and public transportation links.

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