A house located in a tiny Victorian town where no residents are recorded to be living 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. The property's asking price had been "heavily reduced" ahead of its sale, according to the listing.
Rosebery, located on the Henty Highway in western Victoria, recorded “no people or a very low population" during the 2021 Census, down from five people counted during the 2016 Census.
The town is known for its towering grain silos on the side of the highway, which have been turned into an art installation by Melbourne artist Kaff-eine.
The township of Rosebery is surrounded by farmland, and has "no people or a very low population" according to the latest Census. Picture: realestate.com.au/sold
The 2023sqm property, zoned for farming, has a two-bedroom relocatable unit with a modern kitchen and bathroom, according to the listing.
The two-bedroom house at 5 Lascelles Street, Rosebery sold for an undisclosed sum, but is believed to be one of the cheapest sales in Victoria in December. Picture: realestate.com.au/sold
The unit also has a gas stove and hot water, split system airconditioning, rainwater tanks, and a shipping container.
The bargain purchase was far from alone last month, with buyers securing affordable homes for less than $250,000 in every state and territory.
Last month's cheapest sale was in New South Wales, where a savvy property investor snapped up the three-bedroom house at 250 Chapple Lane, Broken Hill, for just $70,000.
Broken Hill’s median house price has increased 8.5% to $210,000 during the year to December, according to PropTrack.
The three-bedroom house at 250 Chapple Lane, Broken Hill in NSW fetched $70,000 at auction. Picture: realestate.com.au/sold
Mitchell Halpin, real estate agent and auctioneer at Broken Hill First National, said the auction conditions were red hot.
“It was 43 degrees on auction day, so it was blisteringly hot,” he said. “The heat didn’t keep the buyers away though, we ended up having seven registered bidders on the day.”
Mr Halpin said the home was popular because of the lower price point and its location, which was walking distance to the city centre and Broken Hill hospital.
A buyer paid $140,000 for the three-bedroom house at 23 South Avenue, Bordertown, representing the cheapest sale in South Australia in December. Picture: realestate.com.au/sold
It was the second Broken Hill home purchased by the investor, who had moved to the area to renovate homes and make a tidy profit.
Property investors have been buying and fixing up older homes in the area to rent out or sell to workers in healthcare, mining and other industries.
“Broken Hill is a mining town, but the biggest employer is the healthcare industry,” Mr Halpin said. “You also get a lot of transient workers like paramedics, police or teachers, who come to town, stay for four or five years, and then usually move back to the coast or Sydney or wherever they’re originally from.”
The one-bedroom house at 4 Stockyard Street, Cunnamulla in Queensland sold for $85,000 in December. Picture: realestate.com.au/sold
The next cheapest home sale was in the Queensland town of Cunnamulla, also known to locals as one of the gateways to the ‘real outback’.
A homebuyer paid $85,000 to bag the one-bedroom house at 4 Stockyard Street, Cunnamulla, along with its 644sqm block, last month.
Fiona Sodeau, real estate agent at @realty, said the home went for an affordable price because it needed fresh paint and some renovation work.
The $130,000 sale of the three-bedroom house at 76 Angove Street, Norseman was the most affordable sale in Western Australia last month. Picture: realestate.com.au/sold
“It does need a paint job, but there’s not a lot to do,” she said. “People are afraid to do that bit of work to get a nice house, they’d rather just pay top dollar.”
Ms Sodeau said the property was in a fantastic position in Cunnamulla, located within walking distance of the local hot springs, pubs, cafes and other amenities.
She said Cunnamulla, located about 750 kilometres west of Brisbane, offered huge rental returns for property investors.
The most affordable sale in the Northern Territory last month was the $159,000 purchase of the three-bedroom house at 16 Haddock Street, Tennant Creek. Picture: 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 massive return,” she said.
Cunnamulla’s median house price was down 0.5% to $99,500 during the year to December, according to PropTrack.
In Tasmania, the one-bedroom house at 14 Jillett Road, Brandum sold for $160,000 last month. Picture: realestate.com.au/sold
In Tasmania, a home buyer from NSW seeking out a simpler lifestyle was behind the $160,000 sale of 14 Jillett Road, Brandum.
The one-bedroom house and its 1,231sqm block overlook the Great Lake in central Tasmania, one of the country’s largest freshwater lakes renowned for trout fishing and hiking.
Real estate agent Jayden Brown from Harcourts Devonport and Shearwater said people had been increasingly moving to the tourist hotspot.
In the ACT, the one-bedroom apartment at 18/6 Marrawah Street, Lyons was traded for $247,000 last month. Picture: 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 homes on that road over the past six months,” he said. “They’re just people who want to be in the property market, but don’t want to have a mortgage or have to work full time anymore."
The other cheapest sales around the country in December included the $130,000 purchase of a three-bedroom house at 76 Angove Street, Norseman, which was the most affordable sale in Western Australia.
The median house price in Norseman, a town located 726km east of Perth, has soared 102% to $99,000 during the year to December, according to PropTrack.
A buyer paid $140,000 for the three-bedroom house at 23 South Avenue, Bordertown, representing the cheapest sale in South Australia in December.
The most affordable sale in the Northern Territory last month was the $159,000 purchase of the three-bedroom house at 16 Haddock Street, Tennant Creek.
In the ACT, the one-bedroom apartment at 18/6 Marrawah Street, Lyons was traded for $247,000 last month.
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