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Is this NSW’s cheapest home?

It’s not often you hear the phrase “cheap as chips” in real estate, but that’s exactly how the listing description describes a house in outback NSW.

In the quaint town of Bourke, a three-bedroom house has surfaced on the market, presenting what many are calling the bargain of the year. 

With a listing price of just $49,000, the property claims the title of the cheapest freestanding house in NSW, in stark contrast to Sydney’s soaring average house price of about $1.4 million, according to realestate.com.au.

The residence, located on Mertin St, occupies a generous 1075sq m block. 

However, this seemingly unbeatable offer comes with its fair share of challenges – the house is in desperate need of comprehensive repairs and refurbishments. 

Listing photos disclose a scene of neglect, with rooms cluttered with abandoned furniture and rubbish

The kitchen, in particular, exhibits severe deterioration, with a collapsed ceiling and debris strewn across the floor.

Despite its dilapidated state, the property’s listing optimistically suggests that the house could be restored “to its golden age,” with hard work and a lot of TLC.

Conveniently positioned within walking distance to essential services, including shops, banks, and the post office, it holds potential for the right investor.

In NSW, it’s rare to find properties listed under $150,000, according to realestate.com.au, making this $49,000 offering an anomaly. 

The only comparable bargain would be a fire-damaged house in Moree, priced similarly for the value of the land alone, as the structure is beyond salvage.

This listing emerges amidst a broader trend of rising property prices across Australia, with PropTrack data indicating a national market rebound. 

Sydney’s market, in particular, has seen nearly a 9 per cent price increase over the past year, attributed to anticipation of rate cuts and heightened buyer activity. 

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Kylie Dulhunty

Kylie Dulhunty is the Editor at Elite Agent.