A Russell Lea property has seen an increase in value of nearly 50 per cent in two years.
The property at 25 Lenore Street first sold in May 2014 for $1.391 million through Ray White Drummoyne agent, Fiona Hellams. Just last month Fiona oversaw a second, off market sale for $2.050 million - 47 per cent more than what the owners bought it for.
“The owners were appraised by other agents at $1.7 million. They hoped for $2 million but never in their wildest dreams did they think they'd get that and more. I leveraged our database of buyers and negotiated the sale,” Fiona said.
The property remained untouched from the purchase two years ago and Fiona said it shows the strength of the Inner West market.
“The owners didn’t put any money into the home. The increase in value is all to do with local market conditions being so strong,” she said.
Specialising in the Russell Lea market, Fiona said buyer demand is at an all time high, adding that at Ray White Drummoyne alone, their database is full of people who are ready to transact.
