Is this the cheapest house in Australia? Two-bedroom house that reached the market for less than a car

This two-bedroom property, with backyard and garage, was sold for $ 45,000

Potential home buyers can buy a two-bedroom house for less than a new car, but there is a trap.

Those looking for a bargain can head to Broken Hill, in western New South Wales, where worn properties have hit the market for just $ 40,000.

Probably the cheapest house in Australia, a two-bedroom property with a backyard, garage and fragile exterior sold for $ 45,000.

This two-bedroom property, with backyard and garage, was sold for $ 45,000

This two-bedroom property, with backyard and garage, was sold for $ 45,000

The offer property (pictured) is located in Broken Hill, west of New South Wales

The offer property (pictured) is located in Broken Hill, west of New South Wales

The offer property (pictured) is located in Broken Hill, west of New South Wales

Broken Hill real estate agent Cliff Wren told Daily Mail Australia that the house needed a little work, but that it is the main investment property.

Broken Hill real estate agent Cliff Wren told Daily Mail Australia that the house needed a little work, but that it is the main investment property.

Broken Hill real estate agent Cliff Wren told Daily Mail Australia that the house needed a little work, but that it is the main investment property.

Broken Hill real estate agent Cliff Wren told Daily Mail Australia that the house needed a little work, but that it was the main investment property.

"It's livable, obviously you need to clean it, probably some new floor coverings and some paint, but you could move right there and live and complete the renovations while you live there," he said.

The price of $ 45,000 is probably the cheapest.

"If you went out and got a loan of $ 35,000, I mean that the mortgage repayments would be a disaster."

Wren said Zebina St's house was probably about 70 years old, but the bathroom had been renovated in the last 20 years.

Advertised as & # 39; Renovators will delight & # 39; The house is 1.5 kilometers from the main street of Broken Hill.

"It's a small property typical of miners that has a sale price," Wren said.

& # 39; They come to the property from time to time, but it is quite rare & # 39;

Advertised as & # 39; Renovators will delight & # 39; the house is located 1.5 kilometers from the main street of Broken Hill

Advertised as & # 39; Renovators will delight & # 39; the house is located 1.5 kilometers from the main street of Broken Hill

Advertised as & # 39; Renovators will delight & # 39; the house is located 1.5 kilometers from the main street of Broken Hill

Wren said that Zebina St's house was probably about 70 years old, but that the bathroom had been renovated in the last 20 years.

As housing prices in major cities such as Sydney and Melbourne remain high, Wren said that investing in regional properties was "smart". and increasingly popular.

Wren said investors spend a few weeks in homes, developing them to a level where they can lease them directly.

Prices for the median house in Australia – March 2018

Sydney: $ 1,150,357

Melbourne: $ 914,518

Brisbane: $ 557,214

Adelaide: $ 533,525

Perth: $ 553,486

Canberra: $ 727,914

Hobart: $ 450,349

Darwin: $ 520,074

National: $ 809,201

Source: domain

"If they bought it for $ 40,000, they spend $ 15,000 on it, they owe about $ 55,000 and they can get around $ 180, $ 190 per week," he said.

"The payments of your mortgage are things of everything".

Wren said that young connoisseurs have realized in the last five years, using it as a trick to enter the real estate market in Sydney and Melbourne.

"We have many young people from the cities who will buy two or three small bric-a-brac," he said.

"They can spend a little money putting them in order to rent, then rent these houses, use the rental prices to pay the mortgage as fast as they can."

"And when they have reduced the mortgage to a reasonable amount, they put these properties back on the market, sell them and the remaining balance is the surplus of their deposit to buy in Sydney or Melbourne."

Wren said the average price of the house in Broken Hill is $ 110,000, which is well below the prices in Sydney and Melbourne, as well as the national average.

Domain's March 2018 figures indicate that the average price of a house in Sydney was $ 1,150,357 and $ 914,518 in Melbourne. The average national price of the house was $ 809,201.

As housing prices in major cities such as Sydney and Melbourne remain unattainable, Wren said that investing in regional properties was "smart". and increasingly popular.

Wren said that young connoisseurs have realized in the last five years, using it as a trick to enter the real estate market in Sydney and Melbourne.

Wren said that young connoisseurs have realized in the last five years, using it as a trick to enter the real estate market in Sydney and Melbourne.

Wren said that young connoisseurs have realized in the last five years, using it as a trick to enter the real estate market in Sydney and Melbourne.

Wren said the small mining town would attract people because of its very relaxing lifestyle.

He also said that the city had a lot of work, especially for doctors, school teachers and police.

Broken Hill is the longest mining city in Australia and has a population of almost 18,000. It is located 1,160 kilometers west of Sydney and 511 kilometers northeast of Adelaide.

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