Property bargains: Seven houses that have sold for less than $100,000
It is hard to believe in the midst of Australia’s property boom that there are still houses that can be picked up for less than $100,000.
While a five-figure sum won’t get you more than a car park or marina berth in our most expensive cities and towns, there are still pockets of the country where that’s enough to secure a house – admittedly one that needs a little, or in some cases a lot, of work.
From the coastline to the country, there are the towns and regions where houses have been selling for less than $100,000 in recent weeks.
3 Edward Street, Mount Morgan, QLD
Found in central Queensland, this three-bedroom, one-bathroom original-condition house recently traded for $93,000.
The Queenslander sits on almost 1500 square metres of land in the historic mining town of Mount Morgan and is about a 30-minute drive from Rockhampton.
The house is ripe for renovation, with an original-condition kitchen complete with linoleum flooring, and a bathroom that has seen better days. However, it also has some lovely stained glass windows and other heritage features throughout.
Records show it last traded for $30,000 in 2001.
20 Stirling Road, Port Augusta, SA
On just more than 630 square metres, this two-bedroom, one-bathroom house without parking recently sold for $95,000.
The Port Augusta property is about a three-and-a-half-hour drive from Adelaide and backs onto the train line. It sold to a local investor but also drew strong interest from east coast buyers, said selling agent Mick Gilbert of First National Port Augusta.
“For anything we list at the minute for around $125,000 or below, we’re getting inundated with investors particularly from eastern states with a lot of Melbourne enquires and a few from NSW,” Mr Gilbert said. “With high rental demand, a lot of investors are coming back into the market and getting in on the strong returns.”
First-home buyers had also been taking advantage of record-low interest rates to get onto the property ladder, spurred on by rising rents, he said.
18 Burke Street, Sandford, VIC
There’s no disguising that this two-bedroom cottage needs work.
It was marketed as a “renovator’s delight” that needs some well-earned attention and sits in the small town of Sandford in Victoria, about a four-hour drive west of Melbourne.
The humble cottage had been recently restumped, rewired, replumbed, and sits on a 779-square-metre block.
It sold for $75,000 in late August.
22 Quartz Street, Pingelly, WA
A local first-home buyer forked out $80,000 for this two-bedroom house in Pingelly, in the Wheatbelt region of Western Australia, about a two-hour drive south-east of Perth.
“We had a lot of interest in that one as soon as we reduced [the price] to under $100,000, it was originally up there for $110,000,” said selling agent Keith Guest, of Elders Real Estate Narrogin.
The property, on just over 1000 square metres, also drew strong interest from both local and interstate investors, Mr Guest said.
“We’ve had a huge amount of interest from investors, a lot are from the east and are buying property sight unseen … they’re purely buying on the rent returns. Melbourne is probably [where most are from] but we’ve had some from Queensland and NSW,” he said.
Records show the property last traded for over $100,000 in 2009.
13 Hollywood Street, Rosebery, TAS
Sold for $85,000 this home in Tasmania’s west offers three bedrooms, one bathroom and a single-car garage that has been converted into a simple man cave.
The property is found in Rosebery, a zinc and gold mining town that’s surrounded by dense forest and the mountains of the West Coast Range. It’s under a three-hour drive from Launceston.
The 671-square-metre block backs onto Crown land and could be rented out for potentially $180 per week.
433 Church Street, Hay, NSW
In the town of Hay, in the western Riverina region of New South Wales, this three-bedroom, one-bathroom cottage recently sold for $80,000.
The 506-square-metre block sold through Kylie McDougall of Nutrien Ag Solutions Hay, with the buyer planning to renovate the home for their mother.
Ms McDougall had also seen growing interest from interstate investors this year, with interest coming from buyers in Sydney and across Victoria.
“There has been huge, surprising demand for real estate in Hay, generated by positive employment in town… and people sitting a home who don’t want to leave their money in the bank [while interest rates are so low].”
A move-in ready, neat and tidy home in the town would probably set buyers back about $250,000, she said.
“We’re probably coming to the end of the line for properties under $100,000,” she said.
27 Porter Street, Tara, QLD
Scraping in just under $100,000, this three-bedroom home in Queensland’s Western Downs Region recently traded for $99,000.
The property in Tara – about a three-and-a-half-hour drive from Brisbane – is on more than 1000 square metres, and had sizeable bedrooms and a large kitchen.
The home has plenty of colour throughout, with purple, mint green and blue walls across the different rooms.
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