Sydney's Property Market Is So Hot, Even The RBA Is Selling Houses

Property listing by Ray White on Realestate.com.au

Australia’s central bank is selling a 920-square-metre estate in Kirribilli as Sydney property prices hit record highs.

The RBA will auction off “Eversley” on 10 Carabella Street Kirribilli on 22 March.

The RBA bought Eversley in April 1986 to accommodate lecturers participating in the 1988 SEANZA conference, and for the option to expand its nearby H.C. Coombs Centre for Financial Studies.

It owns several other properties in the affluent area, including the centre, which it rents out for conferences, and 4 and 8 Carabella Street.

Eversley has been leased as two separate apartments to private tenants for some time, but the apartments were vacated in mid-2013 for renovations.

The RBA may have been considering a property sale for almost a year; a June 2013 draft strategy paper noted “approximately $180,000 of recent capital expenditure” on Eversley, with a further $140,000 budgeted for bathroom renovations in 2013-14.

According to the RBA’s real estate property listing, Eversley has a total of 6 bedrooms and 6 bathrooms across two levels with separate kitchen, dining and family areas on each level.

The garage holds four cars and there are harbour views from the upper level.

The sale is managed by Ray White and the listing is here.

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