A house located in a small Victorian town where there are reportedly no residents was among the most affordable sales in Australia during the month of December.
A two-bedroom house at 5 Lascelles Street, Rosebery, sold for an undisclosed sum in December but is believed to be one of the cheapest sales in the state. According to the advertisement, the asking price of the property had been “significantly reduced” prior to the sale.
Rosebery, located on the Henty Highway in western Victoria, recorded “no people or a very low population” during the 2021 census, compared to five people counted during the 2016 census.
The city is known for its towering highway-side grain silos, which have been converted into an art installation by Melbourne artist Kaff-eine.
The 2,023 sqm property, zoned for agriculture, has a two-bedroom portable unit with a modern kitchen and bathroom, according to the listing.
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The two-bedroom house at 5 Lascelles Street, Rosebery sold for an undisclosed amount but is said to be one of the cheapest sales in Victoria in December. Image: realestate.com.au/sold
The unit also has a gas stove and hot water, split system air conditioning, rainwater tanks and a shipping container.
This bargain purchase was far from the only one last month, with buyers in every state and territory securing affordable homes for under $250,000.
The cheapest sale last month took place in New South Wales, where a savvy property investor bought the three-bedroom house at 250 Chapple Lane, Broken Hill, for just $70,000.
Broken Hill’s median house price rose 8.5% to $210,000 over the year to December, according to PropTrack.
The three-bedroom house at 250 Chapple Lane, Broken Hill in NSW has fetched $70,000 at auction. Image: realestate.com.au/sold
Mitchell Halpin, broker and auctioneer at Broken Hill First National, said auction conditions were red hot.
“It was 43 degrees on the auction day, so very hot,” he says. “However, the heat did not keep the buyers away, in the end we had seven registered bidders that day.”
Mr Halpin said the house was popular because of its lower price and location, which was within walking distance of the city center and Broken Hill Hospital.
A buyer paid $140,000 for the three-bedroom house at 23 South Avenue, Bordertown, which represented the cheapest sale in South Australia in December. Image: realestate.com.au/sold
It was the second house in Broken Hill bought by the investor, who had moved to the area to renovate houses and make a tidy profit.
Real estate investors have bought and renovated older homes in the area to rent or sell to workers in health care, mining and other industries.
“Broken Hill is a mining town, but its largest employer is health care,” Halpin said. “You also get a lot of temporary workers, like paramedics, police or teachers, who come to the city, stay there for four or five years and then usually move back to the coast or Sydney or wherever they come from.”
The one-bedroom house at 4 Stockyard Street, Cunnamulla in Queensland sold for $85,000 in December. Image: realestate.com.au/sold
The next cheapest house sale took place in the Queensland town of Cunnamulla, known to locals as one of the gateways to the ‘real outback’.
A homebuyer last month paid $85,000 to take possession of the one-bedroom house at 4 Stockyard Street, Cunnamulla, along with the 644 sq m block.
Fiona Sodeau, real estate agent at @realty, said the home was listed for an affordable price because it needed new paint and some renovation work.
The sale of the three-bedroom house at 76 Angove Street, Norseman, valued at $130,000, was the most affordable sale in Western Australia last month. Image: realestate.com.au/sold
“It does need some paint, but there’s not much to do,” she said. “People are afraid to do that little bit of work to get a nice house. They’d rather just pay top dollar.”
Ms Sodeau said the property was in a fantastic location in Cunnamulla, within walking distance of local hot springs, pubs, cafes and other amenities.
She said Cunnamulla, located about 750 kilometers west of Brisbane, offered huge rental returns for property investors.
The most affordable sale in the Northern Territory last month was the purchase of a three-bedroom house at 16 Haddock Street, Tennant Creek worth $159,000. Image: realestate.com.au/sold
“You can buy a house for $150,000 to $200,000, but you can expect to get $350 a week in rent, which is a huge return,” she said.
According to PropTrack, Cunnamulla’s average house price fell 0.5% to $99,500 over the year to December.
In Tasmania, the one-bedroom house at 14 Jillett Road, Brandum sold last month for $160,000. Image: realestate.com.au/sold
In Tasmania, a NSW home buyer looking for a simpler lifestyle was behind the $160,000 sale at 14 Jillett Road, Brandum.
The one-bedroom house and 1,231 sq m block overlook the Great Lake in central Tasmania, one of the country’s largest freshwater lakes, known for its trout fishing and walking.
Property agent Jayden Brown from Harcourts Devonport and Shearwater said people were increasingly flocking to the tourism hotspot.
In the ACT, the one-bedroom apartment at 18/6 Marrawah Street, Lyon traded for $247,000 last month. Image: realestate.com.au/sold
He said the buyer had sold his home in NSW and wanted to live a simpler lifestyle without a mortgage.
“I’ve sold three houses on that road in the last six months,” he said. “These are just people who want to get into the real estate market, but don’t want to have a mortgage or no longer want to work full-time.”
The other cheapest sales across the country in December included the purchase of a three-bedroom house at 76 Angove Street, Norseman worth $130,000, which was the most affordable sale in Western Australia.
According to PropTrack, the average house price in Norseman, a town 726km east of Perth, rose 102% to $99,000 in the year to December.
A buyer paid $140,000 for the three-bedroom house at 23 South Avenue, Bordertown, which represented the cheapest sale in South Australia in December.
The most affordable sale in the Northern Territory last month was the purchase of a three-bedroom house at 16 Haddock Street, Tennant Creek worth $159,000.
In the ACT, the one-bedroom apartment at 18/6 Marrawah Street, Lyon traded for $247,000 last month.
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