NSW’s cheapest house: 5 per cent the cost of a Sydney home realestate
In a sign of the times where buyers are looking for diamonds in the rough property market, one small rural NSW town holds the cheapest home in the state.Lot 75 Sims Hill TerraceA historic opal mining town in outback NSW, Lighting Ridge is famed for its rare black opals, mining history and colourful locals.High quality black opals can fetch a price of up to $15,000 per carat – making them one of the most valuable gemstones in Australia.
“Houses out here can sell for as little as $35,000 all the way up to $250,000. A lot of people like escaping the hustle and bustle of the Coast and city life, it can be the perfect getaway for families on holiday too.”Homes in Lightning Ridge can sell for as low as $35,000. “The property is ideal for a couple or a single person looking for an affordable and quiet life, or a great base for mining operations,” Mr Ryan said.The cabin includes three bathrooms, one bathroom and two car spaces.has seen median prices fall by 17.6 per cent in the past year> The median cost for a house sits at $175,000. 16 homes were sold in the past month, with 92 days on market the average. There have been 13 houses listed in the past month.
“This three-bedroom property is worth $65,000 and a buyer can effectively live off the grid thanks to the solar panels on the roof and the rainwater tanks near the rear,” Mr Ryan said.
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