Perth real estate market wrap: They’re not fancy, but they’re cheap
FEAST your eyes on Lot 501 Prinsep St — WA’s cheapest block of land. There’s just one catch — you have to travel 725km east of the Perth CBD.
FEAST your eyes on Lot 501 Prinsep St — WA’s cheapest block of land. There’s just one catch — To get to the 506sq m lot priced at $7500, you have to travel 725km east of the Perth CBD.
Norseman, deep in the state’s south-east, has emerged as home to WA’s cheapest block for sale, online listings show.
Selling agent Laurie Fyfe has the block on his books and admits it is cheap, even by the town’s standards.
“Well, it’s been cut in half and only has a 10m frontage,” Mr Fyfe, of Professionals Esperance, said.
“Normally, the quarter-acre lots sell between $10,000 and $15,000. I reckon someone might buy the block next door as well,” he remarked.
Mr Fyfe said retirees had rediscovered Norseman as a place to “get away from the rat race”. “It’s halfway between Kalgoorlie and Esperance. If you want to go shopping, you go north to Kalgoorlie, or if you want to enjoy the ocean, you come down to Esperance,” he said. “It’s a good base in between the two options.”
According to the realestate.com.au figures, the block’s listing has enjoyed more than 860 page visits.
“Norseman seems to get a lot of interest from the eastern states’ investors,” Mr Fyfe said.
“I’ve even had people from there buy blocks of land just to sit on — there’s no time limit to build.”
Similarly, investors divesting themselves of holdings were the impetus behind the recent sales in the town, population about 1000.
When it comes to houses, if you are up for a “renovator’s delight” (and have a strong constitution), you could head north to Mukinbudin in the Mid-West, the home of WA’s cheapest house at $25,000. Further north still, you’ll hit Nullagine, near Marble Bar, where there’s a home for $26,000.
Norseman’s cheapest house sale this year, meanwhile, was $35,000 in February — sold from one investor to another, this time a local. This sale equals the price being asked for the third-cheapest home on the market in WA, in mid-western Morawa.
Are you prepared to be a housing affordability pioneer?
Happy house hunting!
Originally published as Perth real estate market wrap: They’re not fancy, but they’re cheap