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Home sale sums up Sydney in 2024: Aging house in suburb where Aussies are a minority goes for $3.28 million

An aging red brick home has sold for $3,289,000 in a suburb of Sydney where most residents are Asian and White Australians are a small minority.

The four-bedroom house on a 1,065sqm block in Eastwood, 17km north-west of the central business district, had a price guide of $2.45 million but sold for nearly $1 million more at auction on Saturday.

Photos from the property listing on Domain show a dated interior, including a kitchen which looks like it has not been updated for decades, and neither of the two tiny bathrooms were shown in the advertisement.

“This vintage full brick home promises a bright future for the astute buyer,” the real estate agency wrote in the description.

“Featuring four bedrooms and multiple living areas, plus scope to create secondary accommodation complete with private entry, it’s ripe to restore or modernise for today’s style of family living.”

At the time of the 2021 Census, Eastwood was 37.6% Australian born, but just 10.7% of residents gave their ancestry as Australian.

48.8% were of Chinese background, and 8.8% had Korean ancestry.

25.9% were born in China, 6.8% in Korea, 4.5% in Hong Kong, 2.4% in Malaysia, and 2.3% in India.

The median weekly household income was slightly above the NSW median at $1,945 a month, while the median family and personal incomes were slightly below.

One social media user responded to the sale by writin: “A proper house built in a proper Australian style suburb by a proper Australian builder for a proper Australian family.

“Turned into a gambling chip in the property Ponzi scheme run by the corrupt modern-day Australian establishment for the benefit of foreigners.

“It’ll either sit there empty as part of some PRC investor’s portfolio, or get bulldozed to put up ugly soulless multi-storey pigeon holes for the foreign student rental market.

“Once real Australian kiddies played their innocent games in the backyard. Their grandkids will never own a home.”

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