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I know what you're saying, but not everybody is punting on growth. The people on here are, but this is a teeny tiny subsection of property buyers. Some people have plenty of money behind them and just want to buy a house in the area they like. I agree that upon analysis it's a crazy buy, but not...

Decent house, good location, good sized block, so worth a premium. Owner might be renting it out while he gets a DA through - plenty of big, ugly, new houses around there. Being Ashfield, there is a very good chance it's a Chinese buyer and they tend to throw lots of money around and aren't too...