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Cheapest in Australia?

Friday, 10th August, 2018

Clifford Wren of Broken Hill Real Estate with the cheapest house on the market in town and possibly Australia.PICTURE: Emily Ferguson Clifford Wren of Broken Hill Real Estate with the cheapest house on the market in town and possibly Australia.PICTURE: Emily Ferguson

By Emily Ferguson

The cheapest house in Australia could be in Broken Hill.

Valued at $49,000, its price is lower than a property at Walpeup, Victoria, reportedly given the same distinction.

The Walpeup home is valued between $55,000 and $60,000.

The Broken Hill house has two bedrooms and one bathroom. The median house price of a local two-bedroom house is sitting at $84,000.

Clifford Wren of Broken Hill Real Estate said 91 Wolfram Street was the cheapest house in town “because everything else is sold basically”.

“The market has moved quite quickly with the volume of sales in town, so even though this one is listed at $49,000 we’ve got two offers on this property already,” he said.

“So it will eventually get sold, we’re still negotiating with the two parties but there’s two offers, it will be sold,” he said.

“It’s the cheapest house on the market as of today and there’s not very many more cheap houses coming up because the market is moving that quickly that prices are starting to creep up a bit, too,” he said. 

“If this is the only house for sale at forty-nine grand, it’s gonna put pressure on other house values to go northward.

“The market here in price has gone right back to low value levels so it can’t be sustained like that all the time.

“It has to go up, it’s been down low, it has to go northwards basically.

“The people that would purchase this property are renovators, so they would come in here do a quick renovation and rent it out.

“It’s got the good bones about it, structure’s good, a couple of weeks of bob the builder work and you’re done.”

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