Now's The Time for Sydney Property

Now's The Time for Sydney Property. That's the headline that screamed at me from my grandmother's back porch on the weekend. The local real-estate agent had delivered a brochure professing themselves the best in the business. It was the second page that really grabbed me though. A two-bedroom home on 900 square metres in Peakhurst has just sold for $1.408 million dollars. There's nothing wrong with Peakhurst. It's a perfectly respectable suburb 30km south west of Sydney's CBD. And 900 square metres is a nice sized block of land. But it's still just two bedrooms in Peakhurst. And it's still one point four million dollars, in a country where the median annual income is $57,000, pre-tax. In a letter to the real estate agent, the two sisters selling the property wrote The overwhelming result has us both dumfounded. Ladies, that makes three of us. (VIEW LINK)