A home in an Aussie ‘ghost town’ is among the country’s cheapest property sales

A house in a small Victorian town with no registered residents was among the most affordable properties for sale in Australia during the month of December.

The two-bedroom house at 5 Lascelles Street, Rosebery sold for an undisclosed sum in December, but is believed to be one of the cheapest properties for sale in the province. The price of the sought-after property was “significantly reduced” before its sale, according to the listing.

Rosebery, located on the Henty Highway in western Victoria, recorded “no population or a very small population” during the 2021 census, down from five people counted during the 2016 census.

The town is known for its tall grain silos along the main road, which have been turned into an art gallery by Melbourne artist Kaff-eine.

The 2023sqm property, zoned for farming, has a two-bedroom move-out with a modern kitchen and bathroom, according to the listing.

A two-bedroom house at 5 Lascelles Street, Rosebery has sold for an undisclosed sum, but is believed to be one of the cheapest properties in Victoria in December. Photo: realestate.com.au/sold

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The unit also has a gas stove and hot water, split system airconditioning, rainwater tanks, and a storage container.

Real estate sales were a far cry from last month, when buyers found affordable homes for less than $250,000 in all states and territories.

Last month’s cheapest sale was in New South Wales, where a well-informed property investor snapped up a three-bedroom house at 250 Chapple Lane, Broken Hill, for just $70,000.

Broken Hill’s median home price rose 8.5% to $210,000 in the year to December, according to PropTrack.

A three-bedroom house at 250 Chapple Lane, Broken Hill in NSW fetched $70,000 at auction. Photo: realestate.com.au/sold

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Mitchell Halpin, real estate agent and broker at Broken Hill First National, said auction conditions are red-hot.

“It was 43 degrees the day of the auction, so it’s pretty hot,” he said. “The heat did not stop the buyers, we ended up with seven subscribers a day.”

Mr Halpin said the home was popular because of its low price and its location, which is walking distance to the city center and Broken Hill Hospital.

A buyer paid $140,000 for a three-bedroom house at 23 South Avenue, Bordertown, representing the cheapest sale in South Australia in December. Photo: realestate.com.au/sold

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It was the second house in Broken Hill bought by the investor, who had moved to the area to fix up homes and make a tidy profit.

Real estate investors have been buying and renovating old homes in the area to rent or sell to workers in the health, mining and other industries.

“Broken Hill is a mining town, but the biggest employer is the healthcare industry,” Mr Halpin said. “You also get a lot of temporary workers like paramedics, police or teachers, who come to the city, stay for four or five years, then go back to the coast or Sydney or wherever they’re from.”

A one-bedroom house at 4 Stockyard Street, Cunnamulla in Queensland sold for $85,000 in December. Photo: realestate.com.au/sold

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The next cheapest home sale was in the Queensland town of Cunnamulla, also known by locals as one of the gateways to ‘the countryside’.

A home buyer paid $85,000 to fund a one-bedroom house at 4 Stockyard Street, Cunnamulla, along with its 644sqm block, last month.

Fiona Sodeau, a real estate agent at @realty, said the home was purchased at an affordable price because it needed new paint and maintenance work.

The $130,000 sale of a three-bedroom house at 76 Angove Street, Norseman was the cheapest sale in Western Australia last month. Photo: realestate.com.au/sold

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“It needs a paint job, but there’s not much that can be done,” he said. “People are afraid to do that little bit of work to get a nice house, they’d rather pay top dollar.”

Ms Sodeau said the property was in a good location in Cunnamulla, within walking distance of hot springs, pubs, cafes and other amenities.

He said Cunnamulla, about 750 kilometers west of Brisbane, offered great rental value for property investors.

The cheapest sale in the North area last month was the $159,000 purchase of a three-bedroom house at 16 Haddock Street, Tennant Creek. Photo: realestate.com.au/sold

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“You can buy a house for $150,000 to $200,000, but you can expect to get $350 a week in rent, which is a great return,” he said.

Cunnamulla’s median house price fell 0.5% to $99,500 in the year to December, according to PropTrack.

In Tasmania, a one-bedroom house at 14 Jillett Road, Brandum sold for $160,000 last month. Photo: realestate.com.au/sold

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In Tasmania, a house buyer from NSW looking for a simpler lifestyle was after the $160,000 sale of 14 Jillett Road, Brandum.

The one bedroom house and its 1,231sqm block overlooks the Great Lake in central Tasmania, one of the largest lakes in the country and famous for trout fishing and hiking.

Estate agent Jayden Brown of Harcourts Devonport and Shearwater said people had been moving to the popular tourist destination.

In ACT, a one-bedroom apartment at 18/6 Marrawah Street, Lyons sold for $247,000 last month. Photo: realestate.com.au/sold

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He said the buyer had sold his house in NSW and wanted to live a simple life without a mortgage.

“I sold three houses on this road six months ago,” he said. “They’re just people who want to be in the property market, but they don’t want to have a mortgage or work full-time again.”

Other bargain sales across the country in December included the $130,000 purchase of a three-bedroom house at 76 Angove Street, Norseman, which was the most affordable sale in Western Australia.

The median house price in Norseman, a town 726km east of Perth, rose 102% to $99,000 in the year to December, according to PropTrack.

A buyer paid $140,000 for a three-bedroom house at 23 South Avenue, Bordertown, representing the cheapest sale in South Australia in December.

The cheapest sale in the North area last month was the $159,000 purchase of a three-bedroom house at 16 Haddock Street, Tennant Creek.

In ACT, a one-bedroom apartment at 18/6 Marrawah Street, Lyons sold for $247,000 last month.