It’s been labelled “uninhabitable” by a local council, but this rural Aussie property has been snapped up in what might be called the country’s cheapest ever property sale.
Australians looking to buy a cheap house might have just missed out on the bargain of the decade, after an “uninhabitable” property in Western Australia was snapped up for just $2000.
Despite clear warnings from the local council over the derelict status, the two-bedroom, one-bathroom home in Morawa – about 370km north of Perth – was snapped up for the bargain price in November.
A derelict home in Morawa, WA, has sold for a record low price of $2000. Picture: Realestate.com.au
The desolate looking structure will need a lot of work, with renovations the only option before the new owner can enjoy the home properly.
Inside the home, walls are falling down and every surface needs to be replaced thanks to countless stains from the aging process.
The 1012sqm property went up for sale after the Shire of Morawa put the property up for sale after the previous owner failed to pay their rates.
Auctioneer Tony Maddox said the council auction was a good way to sell off its assets, while also welcoming new people and opportunities into towns.
The home will need a lot of renovations. Picture: Realestate.com.au
The property sold for $2000. Picture: Realestate.com.au
“One bidder offered $1000 and another one said I’ll give you a couple grand,” Mr Maddox told The West Australian.
“I said: Is that all I’m going to get? He said: ‘Yep.’
“I looked at the council CEO and said: ‘Can I sell it for that price?’
“He said: ‘Of course you can.’
“So bam, Australia’s cheapest house sold.”
It’s understood the buyer plans to renovate the property, which has a land value of about $10,000.
The local council were looking to sell off the asset. Picture: Realestate.com.au
The new homeowner plans to renovate. Picture: Realestate.com.au
Mr Maddox said once completed he believes the property could be worth $60,000 to $80,000.
For those still looking to find a bargain in the housing market, potential homeowners could look to NSW opal mining hub of Lightning Ridge where the next cheapest home for sale is listed at a $35,000 offering.
Similar to the Morawa property, the future homeowner would need to put in a lot of work to get it up to scratch.