- The median capital city house price is more than $900,000 despite the recent cooling of house prices
- Despite this, many houses in Australia can be found for less than $100,000
- Be prepared to move a small, regional town
With property prices still at high levels, despite the recent cooling of the housing market, housing remains barely affordable for many Australians, especially in the major capital city markets.
CoreLogic data has revealed that despite a 1.3% fall in dwelling prices over July, the median house price in the combined capital cities is $928,812. In the combined regional cities, the median house value is $621,011.
However, if willing to explore outside of the box, such as moving to a regional area many cheaper houses can be found for the same amount as a house deposit in the larger cities.
Along with being located in a regional centre, the majority of cheaper houses have had better days. If prepared to spend on renovations, a bargain can be found.
So, what are the cheapest houses in Australia?
When delving into the cheapest homes for Australia, some rules have been set.
The properties must be houses – as opposed to apartments, units, villas or other types of dwellings. In addition, the property must be a house and a land, so caravan park homes for example are not included. While most caravan park homes can be purchased for under $100,000, this doesn’t include the land itself.
If you are seeking just land, there are many cheap regional blocks available. Some are released by the state governments at very cheap prices.
The WA Government through Development WA offers blocks of land in various towns for as little as $10,000. The town of Norseman, about halfway between Esperance and Kalgoorlie, currently has blocks of land as large as 2,030 sqm at the $10,000 price tag, for example.
In light of these here are some of the cheapest houses in Australia.
Mingah Street, Sandstone, WA – $38,000
Back in April, a small house in the regional town of Sandstone in Western Australia – 157 kilometres east of Mount Magnet and 661 kilometres north of Perth – sold for $38,000 in just two days. The three bedroom home is on a quarter-acre block along Mingah Street, and includes a shed.
Sandstone itself is best known as a prospecting town, with its gold mining history dating back to the 1890s. The property was purchased by a Perth couple who intend to use the house as base for their prospecting adventures.
Any catches? Well none – except if you are short of groceries, it is a two and half hour trip to the nearest major supermarket, which is in the coastal city of Geraldton.
Campbell Street, Mount Isa, QLD – $50,000
Mount Isa, in the north west of Queensland, close to the Northern Territory border, is also home to some of the cheapest housing in Australia.
At time of publication, there is a three-bedroom, one-bathroom home for sale on a 809 sqm block on Campbell Street for $50,000.
City & Country Realty are selling the property on the “complete renovators package” theme, noting the property is needing some “tender, love and care”. Nonetheless, there are three large bedrooms, an open lounge room, with the block fully fenced.
Johnson Street, Bruce Rock WA- $20,000
One of the cheapest houses for sale in Australia is this tiny 1920s one-bedroom, one-bathroom 1920s country cottage on Johnson Street in Bruce Rock.
It is a deceased estate sale, and is only accepting written cash offers within the $20,000 to $25,000 range.
“Not for the faint hearted but for someone with a desire for a bit of hard work you will add value easily,” said agent Will Morris.
Stephen Street, Urana, NSW – $49,000
In Urana, a small town in the Riverina about 111 kilometres from Wagga Wagga, this unique residence and garage are currently on the market for $49,000.
The 1,132 sqm block of land features a two-bedroom residence, a solid brick Historic Garage and an iron shed/barn.
Urana has a population of about 300, and is designated as a classic historic township and village. Despite its size, it does have an aged care centre, a bowling club, police station and a medical centre, and does attract tourists.
The house has had had better days and certainly does need some work.
“The residence does require some improvements to an acceptable standard, however, the ‘bones’ do appear to be somewhat stable,” said agent Brian O’Shea.
“This property is for a very genuine sale, and I would expect it to make the asking price due to its prime location in the town plus the generous block size.”
Shaw Street, Julia Creek, QLD – $65,000
Back to Queensland, this two-bedroom, one-bathroom cottage in Julia Creek, a small town 1,603 kilometres north west of Brisbane, is currently listed on the market for $65,000.
Unlike other properties in this article, this house doesn’t necessarily need any immediate work, having been rented out to tenants.
There is a basic kitchen, dining/living area and a large veranda. There is also a donga building which can be used for extra storage or accommodation. The block size is 802 sqm.
Shaw Place, Coober Pedy – $113,500 for two…
Coober Pedy, located 850 kilometres north of Adelaide on the Stuart Highway, is home to some of the cheapest housing in Australia despite its fascinating history.
The town is famous as many precious opals are mined there, giving it the title of the “opal capital of the world”.
Due to its hot desert climate, many residents live in dugouts – shelters that are based on a hole or dug into the ground – one of only two towns in Australia where residents live in such properties, the other being White Cliffs in New South Wales.
There are currently several such properties for sale in the South Australian town.
One is a twin-unit dugout on Shaw Place, with both units on the same title. The first unit has three bedrooms, the second two-bedrooms. The combined cost is $113,500.
Each home has its private entrance, and the units are located close to the town centre. Currently, both units have long-term tenants.
Something a bit different….
While not exactly meeting our definition of a house, this jetty and boat solution could be an alternative to a typical beach shack.
Jetty 3/29 Gepp Parade, Derwent Park, TAS – $90,000
For $90,000, a 48 foot boat and a jetty (under crown lease) can be acquired, with the jetty itself located in Derwent Park, about 10 minutes from the Hobart CBD.
The jetty is 48 metres long, allowing enough space to moor another boat. Provided a commercial lease is obtained, this could generate about $50 per week, easily paying for the $400 per annum jetty crown lease.
“Jay Lee” is a ferro cement boat which sleeps six across three cabins. Along with a central control room and bench seat, it includes a large kitchen gallery, wood heater, sitting and dining area with a shower and toilet.
The bow of the boat has two beds, with a large bedroom at the stern consisting of a double and single bed.
There is a dining area on the top, too.
