A dilapidated house in Morawa, Western Australia, sold for a record-low $2,000 at auction. The property, requiring extensive renovations, attracted a single cash buyer who seized the bargain opportunity. This sale marks a new low in Australian property prices, surpassing previous minimal sales in remote areas.
Morawa in regional Western Australia has had no claim to fame, until now. The auction of a $2,000 house in the small town is one of Australia ’s cheapest-ever property sales. The uninhabitable clanger on 1012 square metres – with an “enter at own risk” sign at the front – was successfully auctioned in October by agent Tony Maddox, and settled late last month.
It has rusted gutters and roofing, asbestos, collapsed ceilings and provides the ideal nest for breeding rodents, a Shire of Morawa notice, provided with the listing, warns. The transaction for 44 Grove Street, in a country hall on a weekday in October, looks to have made Aussie property history. Never before has someone bought a dwelling at an auction for as little. In his 35 years selling property, Maddox has never done – or seen – a deal this modest. A property in the mining town of Kambalda for $7,000 was the closest to this extremely frugal outcome. Maddox says it was one of three houses auctioned that day in Morawa, a North Midlands town about 370 kilometres north of Perth, including a $25,000 shop and residence, and a “trashed” transportable home on Dreghorn Street that fetched $28,500. “That was bargain stuff,” Maddox says. “And the last one of all was this bloody one in Grove Street.” Only cash buyers were eligible. “I could not get a bid at all – I said, ‘guys, it’s a house, it needs some work I must admit, but it is a house’,” Maddox laughs. “A bloke who had a bid on Dreghorn Street said ‘I’ll give you $2,000’. I looked over at the CEO of the Shire and he said, “yeah, let it go, Tone’.” There is not much precise data on records at the lower end of the market, where results can be volatile if reported incorrectly to collection sources. But it is near impossible to unearth anything that has sold for less. Maddox, who regularly deals in remote dwellings selling for some of the lowest sums in Australia, has certainly never seen a price like thi
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