A two-bedroom property is up for sale for just $48,000 – as experts reveal the best areas for first-home buyers to crack the market.
The stone-fronted cottage is available in Peterborough, a small town in mid-north South Australia, boasting ‘two decent-sized bedrooms’ and a ‘spacious lounge room’.
The property comes with gas heating, an open-plan kitchen and dining space – but has no indoor toilet.
A two bedroom property has hit the market for just $48,000 in Australia as the best areas for first-home buyers has been revealed
The stone-fronted cottage is available in Peterborough, a small town in mid-north South Australia
Instead there is a portable camp toilet located outside the home.
Nutrien Harcourts, the real estate agents selling the property, say the house has a garden workshop shed, separate laundry, rear verandah and single garage.
‘Ideally situated home in prime location close to primary school and all main street facilities,’ the listing reads.
‘Ready to renovate!’
While the rare one-of-a-kind sale is up for grabs in rural South Australia, Real Estate has revealed the best regional locations with houses below average prices.
Chief economist at PRD, Dr Diaswati (Asti) Mardiasmo, released a report that spotlights the regional property markets.
‘Regional areas have seen strong investment into residential, commercial and infrastructure developments over the past 24 months,’ she said.
The property also comes with gas heating, an open-plan kitchen and dining space but the home has no indoor toilet
Nutrien Harcourts, the real estate selling the property, boasts that the house has a garden workshop shed, separate laundry, rear verandah and single garage
The three regional locations that were deemed to be ‘resilient regions’ with solid fundamentals for sustainable growth were all located in New South Wales.
They include the Upper Hunter Shire, Singleton area and Greater Hume region.
The areas have all recorded positive price growth within the past two years and had to have on-par or higher rental yield than its closest capital city as well as an on-par or lower vacancy rate.
The areas also needed to have lower unemployment rate than the state average to ensure local job growth.
The Upper Hunter Shire region, about 150km inland from the Central Coast, has a low median house of $336,750.
With an unemployment rate of just 3.2 per cent the region is believed to be in a strong economic position.
A three-bedroom, three-bathroom property is currently on the market for $299,000.
A three-bedroom, three-bathroom property (pictured) in the Upper Hunter Shire region is currently on the market for $299,000
A two-bedroom, one-bathroom property in Singleton (pictured) with one car space available is currently on the market for just $209,000
‘Entering Bullima on the middle level leads to a spacious open plan living area and a large balcony with BBQ table, chairs and sun lounges,’ the listing reads.
‘From here immerse yourself in the peace of the native bush, soaking up the magnificent views of the bushland, rolling hills and distant coast.’
Singleton, located 70km inland from Newcastle, ‘offers residents a rural lifestyle with the benefits of urban living,’ Dr Mardiasmo said.
Last year Singleton recorded a median house price of $445,500.
A two-bedroom, one-bathroom property with one car space available is currently on the market for just $209,000.
Houses are selling in the Greature Hume LGA from $176,000 with one property (pictured) currently on the market for that price with three bedrooms, one bathroom and a car space available
‘Excellent investment, first buy or retirement low fuss living option. Neat, low maintenance two bedroom unit with carport!’ the listing says.
Located north of Albury on the state border, The Greater Hume LGA sits between Sydney and Canberra.
‘It’s incredibly low median property prices are made evident by the 41.9 per cent of residents who own their home outright (as of 2016),’ Dr Mardiasmo said.
Last year the region recorded a median house price of $215,250 with annual price growth of 7.6 per cent.
Houses are selling from $176,000 with one property currently on the market for that price with three bedrooms, one bathroom and a car space available.