Australia's bargains: The cheapest auction results from the weekend

We know the market is hot, and properties are in high demand, even being snapped up sight-unseen. But are there still bargains to be had, or is the competition forcing up prices at the lower end of the scale?

Here are some of the most affordable properties that sold in capital cities over the weekend.

Brisbane

SOLD - $108,000

31/5 Judith Street, Flinders View QLD 4305

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Sold for $108,000

We are often told in order to retire comfortably, we need some serious cash in the bank, but this little spot in Flinders View proves you don’t need much at all. The listing says there is one bedroom, one bathroom and a modern kitchen at this villa within the Flinders Village Estate. Unit 31 is also only a 45-minute drive from the Brisbane CBD.

Adelaide

SOLD - $315,000

8 Willys Street, Munno Para West SA 5115

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Sold for $315,000

There are not many places in Australia where you can grab a comfortable home for this price, and one that was built less than 10 years ago. Boasting a double garage, three bedrooms, a separate lounge room and a laundry with rear access, this property is ideal for a young family. The main bedroom even comes with a walk-in wardrobe and en suite.

Canberra

SOLD - $570,000

15/5 Tristania Street, Rivett ACT 2611

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Sold for $570,000

This single-level townhouse is the ideal starter home for those also wanting a little extra space and needing more than one bedroom; it has a leafy front courtyard and a sizable deck out the back. Kelsey White of Luton Properties Tuggeranong said they had five registered bidders and two pre-auction offers on the property, and most of the bidders were first-home buyers.

“First-home buyers tend to be priced out of free-standing homes,” she said, adding that “it’s a really strong market in Canberra at the moment”.

Sydney

SOLD - $415,000

23/127 Chapel Road, Bankstown NSW 2200

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Sold for $415,000

The lockdown has not slowed down the Bankstown market, according to Harcourts agent Omar Saadi. He said 15 buyers attended the inspection of this home and that it “needed a bit of a renovation, but it’s a nice cosy apartment”. The new owner is a first-home buyer, and Saadi added that for this type of property, the average sale for the area was around $390,000-$405,000, describing it as a “fantastic result”.

Melbourne

SOLD - $340,000

6/5 Eldridge Street, Footscray VIC 3011

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Sold for $340,000

Of this two-bedder in Footscray, agent Anthony Molinaro from Greg Hocking said: “I do believe the buyer got a good deal as the location and unit itself has huge potential”.

He told Domain the buyer was a young male in his 20s buying his first home, who had been actively looking for many months. Buyer demand in the inner-west had also been charging the market, and for this listing, there were more than 15 groups through the apartment.