A two-bedroom property retails for as little as $ 48,000 as experts reveal the best areas for first home buyers to crack the market.
The stone-front cottage is available in Peterborough, a small town in the middle of northern South Australia, with ‘decent sized two bedrooms’ and ‘spacious living room’.
The property comes with gas heating, an open kitchen and a dining space, but does not have an indoor toilet.
A two bedroom property has been marketed in Australia for only $ 48,000 as the best areas for first home buyers have been revealed
The stone-fronted cottage is available in Peterborough, a small town in the middle of North South Australia
Instead, a portable camp toilet is located outside the house.
Nutrien Harcourts, the real estate agents who sell the property, say the house has a garden shed, separate laundry room, back gallery, and garage.
“Ideally located house in prime location close to primary school and all main street facilities,” the list reads.
“Ready to renovate!”
While the rare unique sale is up for grabs in rural South Australia, Real estate has revealed the best regional locations with houses below average prices.
Head economist at PRD, Dr. Diaswati (Asti) Mardiasmo, has released a report highlighting regional real estate markets.
Regional areas have invested heavily in residential, commercial and infrastructure developments over the past 24 months, she said.
The property also comes with gas heating, an open kitchen and a dining room, but the house does not have an indoor toilet
Nutrien Harcourts, the real estate that sells the property, boasts that the house has a garden shed, separate laundry room, back gallery and garage.
The three regional locations that were considered ‘resilient regions’ with solid foundations for sustainable growth were all located in New South Wales.
They include the Upper Hunter Shire, Singleton and Greater Hume.
The areas have all shown positive price growth in the past two years and were expected to have a level or higher rental yield than the nearest capital, as well as a level or lower vacancy.
The areas also had to have a lower unemployment rate than the state average to ensure local job growth.
The Upper Hunter Shire region, about 150 miles inland from the Central Coast, has a low median home of $ 336,750.
With an unemployment rate of just 3.2 percent, the region is believed to have a strong economic position.
A three-bedroom, three-bathroom home is currently on the market for $ 299,000.
A three-bedroom, three-bathroom property (pictured) in the Upper Hunter Shire region is currently on the market for $ 299,000
A two bedroom, one bathroom property in Singleton (pictured) with a parking space available is currently on the market for only $ 209,000
“Entering Bullima on the middle level, you enter a spacious open plan living room and large balcony with BBQ table, chairs and loungers,” the list reads.
“From here, immerse yourself in the tranquility of the native bush and enjoy the beautiful view over the bushland, the rolling hills and the distant coast.”
Located 70 km inland from Newcastle, Singleton “offers residents a rural lifestyle with the benefits of urban living,” said Dr. Mardiasmo.
Last year, Singleton registered a median home price of $ 445,500.
A two bedroom, one bathroom property with an available parking space is currently on the market for only $ 209,000.
Homes sell in the Greature Hume LGA from $ 176,000 with one property (shown) currently on the market at that price with three bedrooms, a bathroom and parking available
“Excellent investment, buy first or retire without any hassle. Neat, maintenance-friendly unit with two bedrooms and carport! the entry says.
The Greater Hume LGA is located north of Albury on the state line, between Sydney and Canberra.
“The incredibly low median real estate prices are made clear by the 41.9 percent of residents who own their homes outright (as of 2016),” said Dr. Mardiasmo.
Last year, the region registered a median home price of $ 215,250 with annual price growth of 7.6 percent.
Homes sell from $ 176,000 with a home currently on the market for that price with three bedrooms, a bathroom and parking available.