A riverfront property with subdivision potential and a coastal cottage just footsteps to the foreshore were among the cheapest properties to sell in the past month.
But the brave buyers have a massive task ahead of them, with termites, fire and structural damage among an extensive list of issues to tackle, with many of the cheapest properties snapped up on as 'as is' basis - often for less than land value.
A coastal lifestyle is possible for a bargain in towns like South Australia's Kingscote, but buyers will often need to roll up their sleeves. Picture: realestate.com.au
Sales data from realestate.com.au has revealed where homes were snapped up for as low as $65,000 in July, just a fraction of the national median home value, which sits at $894,000, according to the latest PropTrack Home Price Index.
But with historic homes built from Kimberley Colourstone and modern city apartments also making the list, buying a cheap home doesn't always mean sacrificing character or comforts.
Jump ahead to see the cheapest property sale in July in:
From homes with wild pigs to bee infestations, deceased estates and stone beauties, many of the cheapest properties were not for the faint of heart.
Absolute riverfront bargain in New South Wales
A river frontage property in rural NSW, located 165km north of Dubbo, was the cheapest property sale in July, selling for less than its $75,000 asking price.
The property sits on a 1350sqm block with absolute riverfrontage. Picture: realestate.com.au/sold
The two bedroom, one bathroom home at 4 Tooloon Street, Coonamble was sold on land value only, according to its listing, which stated it was “ideal for buyers looking for space, potential, and a great opportunity in a peaceful location.”
Floorboards are missing and there are signs of fire or smoke damage, but the two-bedroom home offers a 'practical layout', according to the listing. Picture: realestate.com.au/sold
Offering the possibility of sub-division, or adding another property on the 1350sqm block, the home itself also offered a foundation to “build on” with services still connected.
Victoria’s cheapest home comes with township zoning
A circa-1900s dilapidated weatherboard cottage with no water or power in the small Victorian town of Dergholm was snapped up by a local resident for just $65,000.
“It's going to be interesting to see what the buyer does with it…I suggest they're going to fix it up, but it's going to cost a lot of money to fix up and being in the middle of middle of nowhere, it's not like there's a tradie just around the corner,” Sales agent Chris Schirmer from Wimmera Property Agents said.
14 Dorodong Road, Dergholm sold for $65,000. Picture: realestate.com.au/sold
Zoned as a township, Mr Schirmer said within the Wimmera district it was common to have residential applications with a hybrid zoning be zoned as a township, and the listing attracted a lot of interest due to its sub-$100,000 asking price.
“In the early days, we got absolutely swamped with enquiry but once those people started going for the trek out there and realised that it's four or five hours away from Melbourne, and there's nothing there …that kind of turned people off,” he said.
Queensland auction with a wild pig on the loose
In tropical far north Queensland, a weatherboard cottage infested with termites and honeybees and its own resident backyard wild pig sold under the hammer last month for just $90,000.
Advertised as ‘renovate or detonate,’ the three bedroom home at 6 Penda Street in the small town of Goondi Bend had sat vacant for 12 months or more, and in that time squatters had taken up residence, leaving it in a sorry state.
A wild pig let loose during the auction made for a memorable end to the sales campaign. Picture: realestate.com.au/sold
A wild pig let loose during the auction made for a chaotic and memorable end to the sales campaign of the deceased estate.
“It had live termites in it. It had live honeybees. There was a wild pig tied up in the backyard,” sales agent Jade Hardaker from Raine & Horne Innisfail said.
“The squatters had dropped a pig in the backyard, which they released on auction day, which was safe to say was the excitement and highlight of the day - to keep us all on our toes.
“So there was a few ad-lib jokes thrown in there about the house, the bees, the termites, and the pig – it had it all.”
Three bidders battled it out for the home, pushing the sale price slightly above its reserve. Picture: realestate.com.au/sold
Three registered bidders battled it out for the home, with it selling slightly above the reserve price for $90,000.
The new owners will have the task of clearing all the items strewn throughout, which included broken furniture, rubbish and various household items.
Coastal renovator in SA for $210k
Just a matter of steps to the foreshore, South Australia’s cheapest home to change hands sold for $210,000.
23 Giles Street, Kingscote is in need of a new floor and renovation. Picture: realestate.com.au/sold
Advertised as suited to renovators or builders, 23 Giles Street, Kingscote was in need of a new floor and other works.
Its highlights included a generous 558sqm block, two bedrooms, one bathroom and a concrete floor shed.
Old world charm in an old Tasmanian mining town
Combining Old World Charm, high ceilings and three character fireplaces, Tasmania’s cheapest sale was snapped up for $170,000.
6 King Street, Queenstown sold for $170,000. Picture: realestate.com.au/sold
The 1900s Edwardian character home at 6 King Street, Queenstown offered the chance for the new owner to restore the three bedroom home.
Bygone build in Western Australia
In Western Australia, a character-rich three bedroom home built from locally sourced historic Kimberley Colourstone was snapped up for $145,000.
Sales agent Peter Burns from Hutchinson Real Estate Broome said the deceased estate at 27 Stanley Street, Derby was sold as a ‘walk-in, walk-out’ basis and attracted a surprising level of interest.
The buyer plans to turn the unique property into their forever home. Picture: realestate.com.au/sold
He believed the home was constructed from Colourstone sourced from a stone mine about 100km of south of Derby, similar to many other older buildings in the area.
Set on a 2030sqm block, the unique home was snapped up for $145,000 by a local buyer who has plans to renovate the property as his forever home.
Northern Territory’s cheapest sale
Selling for $125,000, 29 Haddock Street, Tennant Creek was advertised as a gem “ready for the handyman to bring back the glory.”
The NT's cheapest home in July included a double garage and an expansive shed. Picture: realestate.com.au/sold
Set on a 1000sqm block, the home included two living areas, three bedrooms, two bathrooms and a double garage.
Modern comforts for a bargain in the ACT
A vacant, one bedroom apartment in the heart of Woden was among the cheapest sales in the nation's capital, selling for $315,000.
The complex includes resort-style amenities such as a pool, bbq facilities and a gym. Picture: realestate.com.au/sold
Its highlights included an open plan living and dining area, balcony, double-glazed windows and resident amenities including a pool, gym and communal spaces.