SYDNEY—Sydney houses with crumbling walls, shredded ceilings, and bathrooms and kitchens stripped of fixtures are getting snapped up for millions as buyers try to grab a slice of Australia’s soaring property market.
Last week, a derelict brick cottage in the city’s northwest sold for A$1.6 million ($1.2 million), a price the real estate agent handling the deal said was “much more than we were expecting.”
