Australia’s cheapest house sells for $7000
A derelict property in a New South Wales country town has been crowned the title of cheapest home to sell this year.
The home sits on a 506 square metre block of land in the town of Hay and is cheaper than most second hard cars, or a designer handbag.
The property sold for the exceptionally low price of $7000 in May this year, according to realestate.com.au.
The listing refers to it as an ‘ideal renovators delight’ and notes that it presents huge potential for remodelling.
Landmark
'The house was trashed and there were loose bricks everywhere,' Real estate agent, Therese Murray told the publication.
The 1920 homes’ property report indicates that it’s been declining in value.
The home was sold for $48K in 2004 and for $30K in 2012.
Even though the crib is a little worse for wear, it sits on a large area of land that can be utilised by a buyer keen to renovate. The property boasts three bedrooms, one bathroom and a sizeable garage space.
Also, considering the state that it’s in, the agent has noted that it’s unable to be accessed for inspections.
The sale comes off the back of a 20 per cent drop in demand for housing across the country.
Read more: Three bedroom Adelaide home heads to auction with $0 reserve
