Dilapidated house becomes the cheapest house in a capital with a record sale price – and even the real estate agent says it’s ‘ugly’
- Property sales in Perth are cheapest in the city for 2023
- A renovator bought the fixer-upper for $140,000
- Officer said the house was “ugly.”
A ramshackle house in Perth has sold for just $140,000, marking a new record for the cheapest property in the city – with the new owners looking past a relentless sales pitch.
The three-bedroom, one-bathroom duplex in Camillo, in the southeastern part of the city, was purchased in March and is believed to be the cheapest home sold in WA’s capital this year.
Unlike other properties marketed as “excellent” and “flawless” by suburban O’Neill Real Estate, Agent Mark Grogan instead gave a very stark description of the fixer-upper.
“This is pretty rough folks…”Beautiful” is generous because it’s ugly. To be rude is to be polite,” Mr Grogan said on the online listing.
The house in Camillo, south-east Perth, sold for $140,000, setting a new record for the cheapest home sold in the city by 2023
The frame included photos of trash scattered all over the yard and windows lined with plywood
Photos of the property show a brick wall boarded up with plywood and an unkempt yard with trash, a shopping cart, and a shredded mattress strewn over it.
The house even lacks a front door, which Mr Grogan says gave the house an ‘airy’ feel.
‘Stuffed’ makes it sound like a cuddly teddy bear… which it isn’t,’ he said.
Screwed in makes it sound like it has things attached to it…which it doesn’t. Do you understand what I mean?’
He added that it needed a new kitchen, a whole new bathroom, new doors, windows, floors and “other bits and pieces.”
But the blunt description seemed to draw at least a few interested parties, with the solid foundation and exposed brick walls providing an ideal opportunity for renovators to pull off a dramatic makeover.
The selling agent admitted that a completely new kitchen and bathroom was needed
In contrast, other homes listed for sale by O’Neill Real Estate in the same suburb received strikingly different sales pitches
It is not known if the new owners plan to move into the home or flip it, but since the median property price in Camillo is $350,000, they could have made a very smart business move.
The median home price in the entire Perth region is $571,000, making it the cheapest housing market in the capital.
Despite 11 consecutive rate hikes by the Reserve Bank, home prices across the country rose an average of 0.33 percent in May, according to data from PropTrack.
“Market conditions have improved after five consecutive months of price growth, driven by stronger demand for homes relative to inventory on the market,” said PropTrack’s Eleanor Creagh.
TOP FIVE PROPERTY REGIONS IN AUSTRALIA
Investing research firm Hotspot looked at increasing sales activity, potential for capital appreciation; availability of housing at affordable prices; strong infrastructure and proximity to major job industries and found the top five bargains:
1. South Australia: City of Playford
2. South Australia: City of Salisbury
3. Western Australia: City of Armadale
4. Western Australia: the town of Gosnells
5. Queensland: City of Ipswich