Perth's Cheapest House In 2023 Sells For $140K

"Record-breaking Low Sale For Ugly, Run-down City Home"

Brett Lackey wrote an article for Daily Mail Australia.

Blog section updated at 12:49 on June 3, 2023. It was first published at 12:44 on the same day.

Perth's cheapest property record has been broken with a house sold for only $140,000. Although the property was run-down, the new owners looked past its poor condition. The sales pitch for the property was quite aggressive.

In March, someone bought a three-bedroom, one-bathroom duplex in Camillo. It's in the south-east of the city. It seems like it was the cheapest house sold in Perth this year.

O'Neill Real Estate is marketing many properties as 'superb' and 'immaculate' in the suburb. However, agent Mark Grogan gave a negative description of a fixer-upper property.

Mr. Grogan said that the situation is pretty rough. He thinks calling it 'pretty' is being too kind because it's actually ugly. Being polite, he describes it as rough. These are his words from the online listing.

A house in Camillo, located in the south-east of Perth, was sold for $140,000. This sets a new record for the cheapest house sold in the city in 2023.

The yard was filled with trash and the windows were boarded up with wood. Pictures were shown in the listing.

There are pictures of the property. The pictures show a brick wall boarded up with plywood. The yard is unkempt with rubbish, a shopping trolley, and a torn up mattress scattered about.

The house doesn't have a front door. Mr. Grogan thinks it makes the house feel "airy."

"It sounds like a teddy bear, but it's not," he explained.

The word 'screwed' gives the impression that things are still connected, but they're not. Do you understand what I mean?

He said that it required a brand-new kitchen, a completely new bathroom, new doors, windows, floors, and other small items.

The straightforward explanation gained some attention from potential buyers. The sturdy base and brick structure offer a perfect chance for people who want to renovate and transform the space.

The agent agreed that the kitchen and bathroom needed to be completely redone.

. Some homes for sale in the same area were marketed differently by O'Neill Real Estate.

We don't know if the new owners plan to live in the house or sell it for a profit. Camillo has a median property price of $350,000. This means the new owners may have made a wise investment.

Perth's median house price is $571,000. It's the most affordable capital city housing market.

House prices went up by 0.33% in May, even though the Reserve Bank raised interest rates 11 times in a row. PropTrack data shows this.

Eleanor Creagh from PropTrack said that the market is better now. This is because the prices have gone up for five months in a row. There are more people looking for houses than there are houses available.

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