Why this three-bedroom house on a large plot of land sold for just $22,000
A three-bedroom house on a large plot of land sells for just $22,000 because it contains asbestos.
The property, located in the town of Merredin in WA’s Wheatbelt region, on a plot measuring just over 1,000 square meters, was sold privately by treaty in January.
Homes in the area typically cost between $195,000 and $325,000, according to 7News.
The property (pictured), located in the town of Merredin in WA’s Wheatbelt region, on a plot of just over 1,000 square meters in size, was sold privately by treaty in January
The three bedrooms sold for just $22,000 because the listing said they contained asbestos
But the three bedrooms sold for just $22,000 because the listing said they contained asbestos.
It is “in need of repairs” but is on an “expansive” block and just two blocks from a school, the listing claims.
“The beauty of tearing down and rebuilding is that you can create the home you want,” the ad adds.
“You choose the style and orientation, and you can make it as comfortable and energy efficient as your budget allows.”
According to the Australian Bureau of Statistics, the average price of homes across Australia increased to $925,400 in the last quarter of 2023.
New data suggested that buying a flat is now the ‘new Australian dream’ because house prices are so high.
Australians now have to earn $146,000 a year before they can even barely afford a typical home in the capital, which forces the average wage earner into units instead.
The average house price in the nation’s capital rose to $949,410, up 11 per cent in the year to February and the 13th consecutive monthly increase, new CoreLogic data released on Friday showed.
This is despite the Reserve Bank raising rates 13 times in 18 months, taking the cash rate to a 12-year high of 4.35 percent.