Sydney driveway sells for $1.25 million

A four-metre-wide suburban driveway in Newtown, Sydney has sold at auction for $1.25 million, highlighting the extreme nature of Sydney's property market. The 110-square-metre residential site on Church Street was purchased by a developer, making it the latest example of how even narrow driveways can sell for the price of family homes in other parts of Australia. Sydney is now the second most expensive city in the world to buy property, behind Hong Kong.See omnystudio.com/listener for privacy information.See omnystudio.com/listener for privacy information.