Australia’s cheapest house revealed: Country property sitting on 500-square-metre block is going for less than the price of an old used car – but it’ll need some work
- The Murray Street property in Hays, NSW, was sold for an extraordinary $7000
- The tiny 1920 property sold in May and went for cheaper than most used cars
- House described as ‘ideal renovators delight’ due to the work that it needs
A dilapidated property in New South Wales has become Australia’s cheapest home – but the new owners may need to renovate.
The Murray Street property, in Hay, was sold for the extraordinarily low price of $7000 in May this year.
In August 2004, the property sold for $48,000, and in June 2012 it was sold again for $30,000.
The tiny 1920 property is cheaper than most used cars, and almost $2000 less expensive than some luxury handbags, realestate.com.au reported.
The Murray Street property in Hay, in New South Wales, was sold for an extraordinary $7000 in May this year
The median property price for a three-bedroom house in the Hays area is around $113,500.
Despite the reasonable price-tag, the property boasts three bedrooms, one bathroom and one garage space, and is close to several schools.
Real estate agent Therese Murphy said the house was an ‘ideal renovators delight’ and went for a $7000 because it required work.
‘The house was trashed and there were loose bricks everywhere,’ she told the publication.
The Hay property is one of the few within the Greater Sydney area where houses are going for less than $30,000.
A house on Edward Street in Moree, northern NSW, is currently for sale with the asking price set at $10,000, while another house is going for $15,000.
Last year a property in Wee Waa, with an asking price of $30,000, was branded Australia’s cheapest property.
According to CoreLogic, homes in the Greater Sydney area are 74 times cheaper than the average Australian home price of about $520,000.
A house on Edward Street in Moree, northern NSW is going for $15,000 (pictured)
Last year a property in Wee Waa (pictured), with an asking price of $30,000, was branded Australia’s cheapest property