Living in the home on Park Road, Auburn, for 20 years, David, who only speaks Cantonese, purchased the property for $330,000 in 2004 before the other half of the duplex was damaged and eventually demolished in 2018.
The neighbouring property was purchased in 2020 and according to Realestate.com, the house sold for $575,000.
David was offered $600,000 for his half of the home but he held firm, insisting he would not leave for a cent less than a million dollars, with the stand-off now leaving the semi split in half.
Laing+Simmons Auburn Lidcombe Principal Themy Panagiotidis says David has made the right call to stay.
“A very similar property two doors down sold for $960,000 in February so why wouldn’t he ask for a million dollars, it might be next door to a block of units but he’s obviously comfortable there being close to all amenities,” he said.
“It’s such a great location, it’s not a hugely busy road, you’ve got shops, schools and you’re close to the station.
“You can’t buy a unit for less than $600,000 in Auburn now so I definitely see where David is coming from.”
He said Auburn was fast becoming Sydney’s most popular destination for first home buyers.
“It offers great returns for investors too as you can’t beat its location, it’s the geographic heartbeat of Sydney, just so convenient to everywhere and I’d encourage all home buyers to start their journey here first,” he said.
Home split in half after owner rejects buy offer
AN elderly man has been praised after taking a defiant stand against a property developer building a six-storey apartment complex where the other half of his duplex used to be.
