Red hot: Trashed Kelmscott house sells for $100,000 over asking price

A trashed home for sale in Perth’s south-east that was abandoned by its owners attracted 12 offers in less than a day and has already been sold for $100,000 more than the $500,000 asking price.

O’Neil Real Estate residential sales consultant Ash Swarts listed the four-by-two at 19 Ryland Road Kelmscott, describing it as “dirty”, but that didn’t stop more than 100 people attending viewings.

“You can’t sugarcoat this one, it’s less of a fixer-upper and more of an extreme makeover waiting to happen,” he said.

“There was really no room to clean this one up and we had strict instructions from the owner that they didn’t want to go back to the property.

“It’s a ripper price.”

The house was advertised as featuring a living room with a treasure trove of the old owner’s furniture, offering instant decor inspiration – or kindling for your first fireplace.

The kitchen is accessorised with mysterious appliances, while the bathroom has a bong for the new owners’ recreational enjoyment.

Outside, a jungle-inspired yard is perfect for those with a green thumb – or a love of adventure.

Swarts said the house was sold as-is.

“There’s no warranty on anything, not even the light bulbs, so bring your toolkit and a can-do attitude. This house is perfect for DIY enthusiasts, brave souls, or those with a very creative imagination,” he said.

Swarts said a similar home would go to market in a few weeks, and he also expected that to sell quickly.

REIWA chief executive Cath Hart said sales activity remained strong despite the latest REIA Housing Affordability Report showing the proportion of family income required to meet loan repayments in WA rose 1 percentage point over the quarter.

It is up 3.6 percentage points over the year to 37.8 per cent, based on a median weekly family income of $2612 and average monthly loan repayment of $4277.

Hart said suburbs in the City of Armadale were some of the cheapest in Perth.

“Armadale’s median house price has increased 38.5 per cent in the last year and 57.9 per cent since May 2022 to $450,000,” she said.

“Yet the number of settled sales is just 7.7 per cent below the same time in 2023 and 6.6 higher than 2022 – when interest rates and house prices were lower.”

Hart said prices were rising, but there was an appetite for property and people still had the capacity to buy.

“That doesn’t mean it’s not challenging for many buyers, particularly those on lower incomes,” she said.

“There are fewer homes for sale in lower price brackets, but this is the result of bracket creep, pushing what would have previously been lower-priced homes into higher price brackets, rather than availability.”

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