A severely rundown cottage with no kitchen or bathroom and in dire need of a long list of repairs has been snapped up for just $40,000 - the cheapest home sale across the country in February.
That's just a small fraction of Australia's median house price, which reached $996,000 in February according to the latest PropTrack Home Price Index.
From asbestos-riddled shacks to homes with no cooking facilities, and ‘blank canvas’ opportunities, sales data from realestate.com.au has revealed the cheapest property transactions across the country last month.
Local snaps up $40k home deemed unsafe for inspections
In need of “some love” and requiring a full renovation was how Molly Clemens from Broken Hill Property Management summed up the $40,000 sale of 215 Pell Lane, Broken Hill.
This Broken Hill home was Australia's cheapest sale in February. Picture: realestate.com.au/sold
Ms Clemens said with no kitchen and bathroom in place, they were “big ticket items” for securing qualified trades in the town, which accounted for its advertised sales price of $49,500.
The home received two offers once its listing price was slashed. Picture: realestate.com.au/sold
Set on a 486sqm landholding, the property had sat on the market for a 165 days but once the price was dropped, two offers were received.
“A local person has actually purchased the property, and they will plan to renovate it. They do quite a few renos, and they do them really well so it’s exciting to see what they do with it,” Ms Clemens said.
WA’s cheapest home sells for $86k
Western Australia’s cheapest home to change hands was the $86,000 sale of 8 Carrie Street, Pingrup, in the Great Southern.
The home was sold 'strictly as is' - complete with personal items from the previous occupants. Picture: realestate.com.au/sold
Its listing described the three bedroom, one bathroom home as a “genuine roll up your sleeves" opportunity for renovators, budget buyers and investors.
The accompanying images showed the sorry state of the home with the previous residents having left behind refuse and other personal items.
It sold for just $86,000. Picture: realestate.com.au/sold
Buyers were warned that the older fibro/asbestos dwelling needed a complete renovation, repair or potential removal.
Tassie's $90k duo
A few thousand dollars is all that separates the cheapest two sales in Tasmania, though plenty more will be required to get these homes up to scratch.
A simple 35sqm shack with no bathroom known as 'Bits n Pieces' sold for just $90,000 in February, though the listing notes the "real value lies in the location."
The shack known as 'Bits n Pieces', was Tasmania's cheapest home sale in February, selling for $90,000. Picture: realestate.com.au/sold
Set on an 850sqm block in Doctors Point, 41 Wallace Road sits the Central Highlands' main hub of Miena, with easy access to Great Lake and Arthurs Lake.
A couple of hours away in the mining town of Queenstown, a 1980s three bedroom, one bathroom home was snapped up for $93,000.
This rundown home in Queenstown sold for $93,000. Picture: realestate.com.au/sold
Sales agent Rodney Triffett from Harcourts West Coast said 72 McNamara Street garnered a high amount of interest and did not take long to sell.
“It's a property that's been empty for such a long time after falling into a bit of a lesser condition, as you can see in the photos,” he said.
“But it's from my understanding, that someone will be renovating it and hopefully bring it up to a better standard.”
Vic: Renovated bathroom and a hot tub (but there's a catch)
The listing of this two bedroom home in the north western Victorian town of Manangatang notes the kitchen needs cooking appliances installed, but - as rarely seen in the cheapest sale lists - the bathroom comes freshly renovated.
The bathroom has been freshly renovated. Picture: realestate.com.au/sold
Images show there's also a separate jet spa, though it's not currently working.
"The executors believe it to be the pump, but are unsure," the listing said.
The jet spa doesn't currently work. Picture: realestate.com.au/sold
The missing items and broken spa were factored into the asking price of 9 Larundel Street, which sold for $120,000 last month.
Queensland’s cheapest buy
A part of the street for more than 80 years, 30 Ramsay Street, Cloncurry sold for $142,000.
The four-bedroom home overlooks the busy town centre of Ramsay Street. Picture: realestate.com.au/sold
The four bedroom, one bathroom home offered a convenient position on the doorstep of banks, supermarket, chemist and a doctor surgery.
Aside from its convenient location, the home also features a large sunroom, and underneath the property a large enclosed area could be a rumpus room, storage area, or a for a hobby room.
Duplex buy in South Australia
One of South Australia’s cheapest homes to change hands was 16 Domeyer Court, Port Augusta West, selling for $265,000.
The duplex sold for $265,000. Picture: realestate.com.au/sold
The half duplex has been updated and includes three bedrooms, one bathroom and was advertised as suiting investors or first homebuyers.
ACT: Entry level buy in the nation’s capital
A one bedroom, one bathroom apartment at 4/3 Keith Street, Scullin, was the cheapest sale in the ACT last month.
This tidy ground floor unit was the cheapest home sale in the nation's capital last month. Picture: realestate.com.au/sold
Selling for $265,000, the ground floor apartment was advertised as “an ideal entry-level opportunity” with new carpet, floorboards and fresh paint.
City views at Darwin apartment
A studio-style apartment right in the heart of Darwin was the Northern Territory’s cheapest sale at $232,000.
A modern studio with air conditioning was the cheapest sale in the NT in Feb. Picture: realestate.com.au/sold
The low maintenance apartment at at 143/21 Cavenagh Street, Darwin City has air conditioning and city views - plus ocean glimpses - from the balcony.
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