Australia’s cheapest sales: Buyer pays $70,000 for shed house fixer-upper

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A rural New South Wales shed house, or ‘shouse’ in a dilapidated state littered with an array of items was Australia’s cheapest house sale in May, selling for $70,000.

The isolated upper western NSW property sold for almost 13 times less than Australia’s median home price, which was recorded at $908,000 in May according to the latest PropTrack Home Price Index.

A roundup of Australia’s cheapest home sales last month reveals an assortment of properties sharing a common theme - the opportunity to take on a restoration, or mammoth repair projects.

Several bargain buys changed hands for less than $100,000, while others included homes offering a mix of heritage, development prospects, or a chance to get a foothold on the property ladder.

Here is a glimpse at Australia’s cheapest sales in May.

Isolated shed marks NSW's and the nation's cheapest buy

“An ideal opportunity for someone ready to roll up their sleeves and make it shine” was an apt depiction of the nation’s cheapest sale last month.

The property located about 45 kilometres from Lightning Ridge was the nation's cheapest sale in May. Picture: realestate.com.au/sold

The lined shed-style home at 12 Petworth Street, Angledool was sold by the Public Trustee on behalf of its owner, selling for $70,000 after slashing its initial $150,000 asking price.

Set on a 2023sqm block, the fixer-upper home included a functional kitchen and bathroom and the new owners plan to live in the property.

Circa 1950s home fetches more than its asking price

Australia’s second cheapest sale was the $74,000 sale of 27 Earl Street in the northern New South Wales town of Collarenebri.

Collarenebri offers all the ammenity needed for a quiet and comfortable country lifestyle. Picture: realestate.com.au/sold

Sales agent Glen Ryan from Glen Ryan State-Wide Realty – Moree said he received a lot enquiry with the deceased estate selling for $5000 more than its asking price.

The circa 1950s home included three bedrooms, one bathroom, a kitchen, as well as a shed and workshop.

Uninhabitable cottage in Victoria

Unfit to meet the Victorian Government’s rental property standards, the new owner of 28 Phillips Street, Beulah, has a long list of repair works ahead of him.

The buyer of this cottage has the chance to add some value, if they are handy with the tools. Picture: realestate.com.au/sold

Selling for $125,000, sales agent John Hadley from Horsham Real Estate – Horsham said the circa 100-year-old cottage was sold to a WA resident who has plans to use the property for retirement down the track.

Featuring original pine floorboards, two bedrooms, an internal toilet and laundry, the home also had a bungalow with power connected.

Historic hall given new lease of life

Offered for sale on an “as is” basis, The Old Royal George Public Hall in Royal George, Tasmania was snapped up by local resident for $125,000 who plans to restore the building as a short stay accommodation offering.

“There does have to be some work to get it up to standard,” sales agent Nick Hay from Howell Property Group – Residential said.

The Old Royal George Public Hall presents an opportunity to create a unique home or lifestyle investment in Tasmania’s picturesque Fingal Valley. Picture: realestate.com.au/sold

“It's got no bathroom, it's got no kitchen - power is available, it's not connected,” he said.

“It's quite a historical property, it was a state school, and then it operated as a hall and then in recent times a few parties from interstate have bought the project, fell in love with it but haven’t done the next step of recreating it into a habitable dwelling.”

It has already undergone significant restoration works and is ready for its next chapter. Picture: realestate.com.au/sold

This post-war hall at 8-10 Royal George Road, Royal George is part of a small mining and agricultural town of about 30 residents in Tasmania’s Fingal Valley.

South Australia’s cheapest buy ripe for renovation

With an unliveable three bedroom house, the sale of 18 Bowman Road, Stirling North was in its land value, sales agent Craig Costello from Harris Real Estate - Kent Town said.

“It was certainly a good opportunity for someone. It was a big, big block of land in a regional location that's experiencing good growth and demand,” he said.

The three-bedroom home is located on the doorstep of South Australia's breathtaking Flinders Ranges. Picture: realestate.com.au/sold

“But it had to suit the right buyer that was happy to sort of roll their sleeves up and do a bit of work.”

Sold “as is,” the new buyers have plans to renovate the property for investment purposes, and is in need of new plumbing and updates to the original kitchen and bathroom.

“We probably sold this one about four times,” Mr Costello said.

“We had a lot of ‘sight unseen’ interstate interests, but then they would get a building and pest inspection report done, and they’d end up pulling out.”

Rural home Queensland’s cheapest sale

Queensland’s cheapest home to change hands was the $158,000 sale of 28 Philp Street, Normanton.

28 Philp Street, Normanton was the most affordoable home to change hands in Queensland during May. Picture: realestate.com.au/sold

Set within the heart of the outback town, the two bedroom home had a renovated bathroom and a large covered entertainment area set across a 1012sqm block.

Investor opportunity in WA

Advertised as a “fantastic opportunity for investors,” Western Australia’s cheapest sale was a tenanted home in Kambalda West, a mining town in the Goldfields Esperance region.

20B Hopbush Court was marketed as an opportunity for investors seeking an affordable, low maintenance addition to their portfolio. Picture: realestate.com.au/sold

Selling for $165,000, 20B Hopbush Court, has a $300 week tenant in place, and the two bedroom duplex has a single carport and with extra space for a caravan or trailer, and a good sized patio.