Outback SA’s cheapest home: $50k Andamooka property for sale

22 hours ago 3

It’s one of the cheapest homes on the Australian property market but not even a $50,000 price tag will be enough to get most buyers over the line for this outback home.

Based on sales of similar properties, Raine and Horne selling agent Craig Sumsion expected there to be strong interest for Lot 142 Brooks Court, Andamooka, mainly from interstate buyers looking for a bargain.

But they would quickly retreat on discovering the one-bedroom home was 600km north of Adelaide, he said.

“I get a lot of interest from people interstate who have no idea where Andamooka is and they see cheap property and because they assume everything in South Australia revolves around Adelaide that it (the listed property) is close to Adelaide,” said Mr Sumsion.

Lot 142 Brooks Court, Andamooka. Supplied

From another angle. Supplied

“But Andamooka is an old opal mining community. It’s in the middle of nowhere. It’s in isolation.

“It’s still 300km north of Port Augusta so we are well and truly out there (in remote SA).”

For those up to the challenge of outback SA, however, the one-bedroom home, which has an open-plan kitchen and living area and sits on a large 1692sqm allotment, has some distinct advantages.

With just a $10,000 deposit and an interest rate of 5.76 per cent, the home would cost its new owner only $56 a week in mortgage repayments.

It could also provide lucrative earnings should the buyer wish to rent out the home, with the cheapest rental in Andamooka – a one-bedroom unit – currently listed for $180 a week.

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Even left unoccupied, the home could prove a reasonable investment.

Property values in Andamooka have increased 4.8 per cent in the past year. While that’s less than the overall 12.3 per cent increase recorded for regional SA, it is still comparable with current interest rates for competitive savings accounts.

The vendor, who purchased the home in 2018, stands to more than double their money and make a $26,200 gross profit if they sell for the advertised price, property records show.

Mr Sumsion said one purchase offer was received within days of the house being listed but the vendor was yet to accept.

The handy shed. Supplied

How’s the serenity? Supplied

He would not be drawn on why the house was being sold but said plenty of work opportunities, particularly at nearby Olympic Dam, existed for buyers wanting to call Andamooka home.

“They’re not necessarily office jobs – they’re more likely to be trade and labour positions which are well paid and there’s training opportunities with a lot of companies as well,” he said.

“If people want to come up (and live in Andamooka) there are (employment) opportunities – they have only got to come up and go to one of the labour hire companies and ask (for a job).”

So what does the rest of the town look like? Our reporter Lydia Kellner visited Andamooka recently and took these pics: