Lisa Ho prepares to take $1 million plus loss on her 1880s Randwick property

Jonathan ChancellorSep 15, 2013

Fashionista Lisa Ho 's four bedroom Randwick residence, Silverton was passed in at weekend auction at $2,675,000.

It had $3 million plus hopes prior to its auction through McGrath agent Adrian Bo - and has since been given a $3 million asking price.

The Randwick home on 626 square metres was initially listed for sale in 2011 with hopes of more than $4.5 million.

Lisa Ho bought the freestanding, circa-1884 Italianate residence in 2010 for $4 million directly from interior designer Ros Palmer.

The Dutruc Street property previously traded in 1985 for $266,000.

RP Data puts the median Randwick house price at $1.43 million, which is down 3.4% over the past year, but up 9.9% over the past five years.

Lisa Ho's big mistake was dealing direct with the persuasive Ros Palmer.

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.