A three-bedroom home on a large plot of land sold for just $22,000 because it contains asbestos.
The property, situated in the town of Merredin in WA’s Wheatbelt region on a plot just over 1,000 square metres in size, sold privately through a treaty in January.
Houses in the area typically go for between $195,000 to $325,000, according to 7News.
The property (pictured), situated in the town of Merredin in WA’s Wheatbelt region on a plot just over 1,000 square metres in size, sold privately through a treaty in January
The three-bedroom sold for just $22,000 because it contains asbestos, according to the listing
But the three-bedroom sold for just $22,000 because it contains asbestos, according to the listing.
It’s ‘in need of repair’ but sits on an ‘expansive’ block and is just two streets back from a school, the listing claims.
‘The good thing about knocking down and rebuilding is that you get to create the home you want,’ the listing adds.
‘You choose the style and orientation, and you can make it as comfortable and energy efficient as your budget allows.’
The mean price of residential dwellings across Australia rose to $925,400 in the final quarter of 2023, according to the Australian Bureau of Statistics.
New data suggested that buying a unit is now the ‘New Australian Dream’ because house prices are so high.
Australians now need to earn $146,000 a year before they can even barely afford a typical capital city house which is forcing average wage-earners into units instead.
The nation’s median capital city house price surged to $949,410, up 11 per cent in the year to February and the 13th consecutive monthly increase, new CoreLogic data released on Friday showed.
This was despite the Reserve Bank raising interest rates 13 times in 18 months – taking the cash rate to a 12-year high of 4.35 per cent.
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