Inside Australia’s cheapest houses on the market right now, on offer for as little as $69,000

They’re a tenth of the price of a home in Sydney and sit on mammoth blocks that would fit several inner-city terraces … but Australia’s cheapest homes come with a catch.

It’s a tenth of the price of a home in Sydney and sits on a mammoth parcel of land that would fit several inner-city terraces on it, but you will need to bring your own oven.

This is one of Australia’s cheapest homes – a two-bedroom dwelling on a 1000 square metre block in a far-flung town in regional Queensland, and it’s on the market for just $110,000.

And it’s not the only bargain basement property currently on the market.

This Pentland home could be yours for just $110,000. Picture: realestate.com.au

Andrew Jensen’s listing for 4 Taylor Street in Pentland has made national headlines thanks to its enticingly low price and quirky features, including an appliance-less kitchen.

The Charters Towers agent told the ABC that “it’s not the best house in town” but is at least habitable and holds a lot of potential.

The main bedroom has a built-in cupboard while the kitchen boasts ample storage, and there’s “a sleep-out addition with side and front walls made of random stone”.

It has airconditioning too, which is a huge plus in a town where the mercury on an average summer’s day gets as high as 34C and only as low at 22C.

The buyer will need to bring their own oven. Picture: realestate.com.au

“They’re the cheapest bloody houses in the country — and I think (the price) is reasonable,” Mr Jensen told the national broadcaster.

He’s selling another cheap-as-chips dwelling just down the road for just $90,000 – a “neat” one-bedroom house he describes as being “perfect for a single person, a couple, or a traveller looking for a comfortable home base”.

The property at 43 Creek Street has all the basics but also comes with “a fridge, washing machine, ride-on mower, whipper snipper, and a roll of poly pipe for irrigation” plus there’s a wind turbine at the back of the block that a caravan could be hooked up to.

Just down the road, this ‘neat’ one-bedroom dwelling is also up for grabs for just $90,000. Picture: realestate.com.au

Those keen to make the move to snap up a low-priced home should be prepared to embrace a “slow and low stress” way of life.

Just 248 people reside in Pentland, about halfway between Charters Towers and Hughenden in Queensland’s north, but it has a shop, primary school, pub and swimming pool.

Other real estate bargains

A little under 1900 kilometres from Pentland in Broken Hill in the far west of New South Wales, near the border of South Australia, you’ll find an even cheaper listing.

The two-bedroom, one-bathroom home at 93 Blende Street is all about location, location, location – close to the town’s centre and near the local high school.

The Broken Hill home needs a bit of TLC. Picture: realestate.com.au

It’s a renovator’s delight, and someone has already made a start on works, with some of the walls and ceilings patched up and ready to paint.

Elsewhere, the buyer will need to add even more walls that have been removed, as well as a new kitchen and a bathroom, although the toilet looks to be intact.

But for just $89,000 – which probably wouldn’t even buy you a car park in inner-city Sydney – it’s potentially a prime project for someone to take on.

The Broken Hill home needs a kitchen (and a ceiling). Picture: realestate.com.au

Further south, another home in need of some tender loving care is 14 Alfred Street in the Victorian town of Donald in the state’s northwest.

Those prone to judging a book by its cover might have a tough time getting past the several fallen trees surrounding the front of the property, including one that appears to be resting on the roof.

You’ll need to clear a few trees as part of works. Picture: realestate.com.au

Inside isn’t much prettier.

The original green carpet has a fair bit of wear and tear while the kitchen has seen better days, but at least it has a stove.

But as selling agent Graeme Male points out, it’s a bargain hunter’s delight at a tiny $69,000 – and has plenty of potential, given it sits on a 900 square metre block.

It could be developed, subject to council approval, or “would be a good weekender while working on the house”.

What it lacks in charm, it makes up for with a tiny price tag. Picture: realestate.com.au

In South Australia in the township of Gladstone, east of Port Pirie, the old local hospital is up for grabs for just $80,000.

The historic building at 1 Port Street “is in need of a new lease on life” but someone with imagination, skill and a budget could make it into a beautiful home.

Aspiring masons have “plenty of rooms to grow and hone (their) stone-working skills”, selling agent Angus Barnden said.

The property, on a generous 1900 square metre allotment, sits within the heart of Gladstone, home to some 630 people.

The old Gladstone Hospital is going for a song. Picture: realestate.com.au

Over in the west, just over halfway between Perth and Kalgoorlie, you’ll find the town of Southern Cross and a “charming” house at 81 Altair Street.

Three-bedroom, one-bathroom property sits on a 1000 square metre block and, while dated, is very liveable.

Although the shower is missing more than a few tiles but until that’s fixed, there’s an extra one in the laundry available.

The Southern Cross home has a lot of potential. Picture: realestate.com.au

Selling agent Kathy Savage said the home is “waiting for a creative touch” and has a lot of potential to be unlocked, and it’s on offer for just $105,000.

Aussies flocking to the regions

While the cheap homes might not be everyone’s cup of tea, the quaint country towns they’re located in could be.

The Regional Movers Index, a collaboration between the Regional Australia Institute and CommBank, shows a 4.6 per cent increase in net internal migration to the regions in the three months to December.

That marks the highest level seen since September 2022 and sits 13.8 per cent above pre-Covid levels.

Regional areas have seen big population increases as Aussies move from the cities. Picture: Zizi Averill

“Regional Australia offers something more for many people, especially those from big cities,” Regional Australia Institute chief executive Liz Ritchie said.

“More space, more time, more affordability. This shift, away from capital city living, has been underway now for a decade. It was definitely supercharged by Covid, but this data proves the regions are still very desirable for a significant proportion of the population.”

Home prices continue to rise

Part of the allure of the regions could be the high cost of living in the major capitals, including the ever-growing cost of putting a roof over one’s head.

Despite the painful cost-of-living crisis and worsening housing affordability, home prices rose again in February across the country.

CoreLogic’s latest Home Value Index, released last week, showed a 0.6 per cent increase in prices at a national level in February.

That was 20 basis points higher than the 0.4 per cent rise seen in January and the strongest monthly gain since October 2023.

Each capital city and rest-of-state region saw an increase, except Hobart where the market slid 0.3 per cent.

“Housing values have been more than resilient in the face of high interest rates and cost of living pressures,” CoreLogic’s research director Tim Lawless said.

“The ongoing rise in housing values reflects a persistent imbalance between supply and demand which varies in magnitude across our cities and regions.”

Home prices in the cities continue to rise. Picture: Julian Andrews

Rent prices continue to surge on the back of high demand and a critical shortage of available homes.

According to the latest SQM Research data, the median dwelling rent in Sydney is $1049 per week, in Melbourne it’s $740 per week, and in Brisbane it’s $716 per week.

Vacancy rates – that is, the proportion of all rental properties currently available – continue to decrease sharply and the national figure was just 1.1 per cent in January.

The vacancy rate in Sydney is now 1.3 per cent, in Melbourne it’s 1.1 per cent, and in Brisbane it’s one per cent.

“Most likely, the fall in rental vacancies was driven by increased demand from tertiary students following the start of campus semesters for 2024, as well as graduates entering the workforce for the first time” SQM Research director Louis Christopher said.

“It is a seasonal demand increase we see at the start of each and every year but is most certainly problematic due to the fact the current rental market remains in crisis.

“Going forward, our best-case scenario for renters is that the population growth rate slows considerably this year to an increase of about 360,000 people which would likely mean a stabilisation in rents starting from the June quarter.

“The worse case is population continues to boom at current rates.”