$72K for a shed: Australia’s cheapest home sold at lightning speed

No sooner had the sale sign gone up had this termite- and spider-ravaged fibro home in rural Victoria gone under offer.

The dilapidated three bedroom property in Warracknabeal was Australia’s cheapest home sale in September selling for $72,000, sales data from realestate.com.au has revealed.

That’s one-thirteenth of the price of a median house across Australia, which now sits at a record $935,000 according to the latest PropTrack Home Price Index.

From fibro shacks to a fire ruined home and quaint country cottages, here is a look at some of Australia’s cheapest properties which changed hands in September.

Cheapest home to make way for a shed

Located at 9 Wood Street in the Wheatbelt Victorian town of Warracknabeal, the circa 1950s home was snapped up by a neighbour who long had their sights on owning the property, sales agent John Hadley from NorthWest Real Estate said.

“He’s got a really nice house next door and had put in a swimming pool,” Mr Hadley said.

“And (he) heard me banging out the front and stuck his head out to see what was going on and said ‘I’ll buy it’ and I said, ‘You don’t even know how much it is yet’ and he said ‘I don’t care, I’ll buy it’.”

The dire state of the home was not sugar-coated, which stated in its listing that the sale includes “80% of what you see in the photos,” which included a fish tank, crockery and furniture.

Mr Hadley said the home will be completely excavated and demolished as the new owner plans to make use of the 1010sqm block for a shed.

Fire damaged home sold for second time in 18 months

One of New South Wales’ cheapest home sales was a fire ravaged residence in the Upper Hunter Region town of Muswellbrook.

The $115,000 sale of 113 Wollombi Road, Muswellbrook marked the second time sales agent Katie Constable from Raine & Horne Muswellbrook had sold the home in about 18 months.

It last sold for $90,000 in 2024 in the same unliveable state.

While Ms Constable said she did not know the entire story of how the home burnt down, it was in an uninhabitable state for at least five years.

It was sold by a Sydney investor who decided they were no longer going to use the 562sqm block to build a family home and relocate.

“So I’ve sold it again to another developer who is going to build a McDonald Jones (Home house) on it,” Ms Constable said.

Country charm with convenience

“Humble country living’ was a rather apt headline for the listing of 56 Hutton Street, Injune, which sold for $102,500.

The two bedroom, one bathroom home in rural Queensland was advertised as offering “solid bones and a sprinkle of character” and being an opportunity for someone with an eye for renovation.

Its list of features included a spacious sunroom, a wood fire stove, an internal laundry, side access and a “quiet town setting” with close proximity the grocery store.

Big block in need of some TLC

Advertised to be sold “as is” and in need of some TLC, this fibro and iron home in the WA Wheatbelt was quick to sell after a price reduction, and was snapped up for $161,000.

Located at Lot 31 Station Street, Burracoppin, sales agent Chi Bobojcov of Chalk Property, said the original price guide was $209,000 and after a price cut to $159,000 it sold quickly to someone who was renting in the area.

Its selling points included its large 2023sqm landholding, a practical home layout, rear access and its redevelopment potential.

Destined for demolition

One of South Australia’s cheapest transactions last month was the sale of 52 Pyap Street, Renmark, for $205,000.

The listing noted that the three bedroom, one bathroom home was likely headed for demolition, and the 833sqm lot with an 18.10m frontage provided great flexibility for development.

Quaint cottage in historic Tassie town

Tasmania’s cheapest house sale aptly advertised as ready for a “fresh and creative mind” changed hands for $139,000.

The two bedroom home at 80 Conlan Street, Queenstown garnered good interest sales agent Rodney Triffett from Harcourts West Coast said.

Selling to an owner occupier, Mr Triffet said the work it needed was reflective in its price point.

“I honestly don’t think it’s a bad house per se,” he said. “It’s been a rental for a lot of years, so just over time …not much money has been put back into it.

“It’s a pretty decent block of land.”

Gated community living in Alice Springs

A one bedroom, one bathroom unit in a gated complex was the Northern Territory’s cheapest sale at $225,000.

Advertised as offering “low-maintenance living and modern comfort,” its features included an open plan lounge and dining area, and a combined bathroom and laundry.

Cheap unit in with a leafy outlook in the Capital

A one bedroom Belconnen apartment was the nation capital’s cheapest property sale last month.

Selling for $275,000, 6/4 Keith Street, Scullin, included a spacious living area, a built-in robe to bedroom across 40sqm of living space.

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