Coober Pedy, the Aussie town where you can buy a home for less than $100k
Coober Pedy is one of the few towns in Australia where you can still buy a home for less than $100,000.
But if you are prepared to pay a little bit more to live in the self-described opal capital of the world, you may want to look at buying a dugout, an underground home that is literally carved into the earth.
Dugouts range from tiny, basic dwellings to large homes spanning up to 450 square metres.
Located 846 kilometres north of Adelaide, South Australia, the town was discovered in 1858.
In 1915, the first opal was found, leading to the establishment of the town the following year. The name Coober Pedy was adopted in 1920.
It is not uncommon for temperatures in the town to climb over 40 degrees so residents took to living in dugouts, which maintain a cool, constant temperature.
According to the town’s tourism website, soldiers returning from World War I were first thought to adopt living underground in dugouts to escape the heat.
Now, about 50 per cent of the town’s estimated 1820-strong population live in dugouts, which are excavated into hillsides.
According to property records, the median house price in Coober Pedy is $91,250, based on 38 sales in the past 12 months, with buyer demand increasing by 47 per cent during that time.
The town’s real estate market is thriving, as is the rental market.
Andrews Property agent Warren Andrews says you can buy an entry-level above-ground home in the town for $50,000.
He said a dugout, on the other hand, will set you back at least $150,000.
“Because of the climate conditions you will pay more for a dugout,” he says.
“An above-ground home will be dramatically hot in the summertime, but an underground home remains a constant 24-25 degrees Celsius all year round.
“There are some very big houses underground. I have seen some quite luxurious homes.”
Among the properties currently for sale is 985 Linsky Close, Coober Pedy.
Dubbed the “dugout with a difference” the three-bedroom dwelling is east-facing to avoid extreme afternoon heat.
It has a spacious kitchen with room for a large dining table and a sunken loungeroom. Among the three bedrooms is a master which boasts something rarely found in dugouts – natural light.
A four-bedroom dugout at Lot 101 Thrower Close, Coober Pedy, is now on the market for $260,000.
Described in the listing as a “private, elegant four-bedroom family dugout retreat,” it features a kitchen with timber benches built-in pantry and breakfast bar, sunken dining area, large living room with dedicated TV/lounge area and reading nook, a unique bar with with built-in bar stools and a large master bedroom with walk-in robe and en suite.
Also on the market is Lot 966 The Painters Road, Coober Pedy, consisting of two separate underground dugouts.
A two-bedroom, one-bathroom home, and a three-bedroom, one-bathroom home. Both have combined lounge/dining areas and their own kitchens.
The property has an asking price of $249,000.
Expressions of interest are also being sought for a well-known tourist attraction in the town.
The property, 25 Old Water Tank Road, Coober Pedy, is a three-bedroom dugout with an indoor swimming pool.
It is described in the listing as a “local icon and tourist attraction.”
Tourists pay an entry fee to step inside Faye’s Underground Home, but unlike other properties that are open to the public, it is also a home.
According to the listing, the property started as a one-room dugout occupied by the local mail truck driver before it was enlarged into the “amazing and unique residence” it is today.
“With a total of six main rooms, including three bedrooms, kitchen, lounge and dining room with built-in bar, wine cellar and a very large entertaining room with an inground swimming pool,” the listing says.
The property also features jade walls, and is fully enclosed.
Andrews said it was only one of three private swimming pools he has seen in 18 years of selling real estate in Coober Pedy.
While there are plenty of second or third-generation residents living in Coober Pedy, others come to down to work in government jobs such as the police.
Retirees are also discovering the town.
Andrews said a couple recently sold a home in Brisbane for more than $1 million and swapped their city digs for a $350,000 dugout home where they now lived “like kings and queens” after “falling in love with Coober Pedy.”
Coober Pedy is also hot with investors.
“We get a lot of investors from Victoria and NSW. They can buy a three-bedroom above-ground home for $90,000 and be getting $160 to $180 a week in rent,” he said.
Recent sales include Lot 1097 Carrolls Road, which consisted of three residential unit dugouts.
Each had two bedrooms and an open plan living area. The property needed work to make it habitable again, but would then fetch about $230 a week in rent.
Others, such as 3-4/4 Italian Club Road, are more of a half dug-out design. The two-dwelling property was recently for sale for $155,000.
A tasteful three-bedroom, two-bathroom ‘family dugout’ at Lot 1071 Opal Crescent, Coober Pedy was recently on the market for $170,000.
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