Andamooka, SA mortgagee listed for 63% reduction in value
Staff reporterDecember 7, 2020
An Andamooka mortgagee home has been listed for $265,000.
That is just 37% of its previous sale price.
Craig Sumsion of Raine and Horne currently holds the listing.
Situated at Lot 52 Opal Creek Boulevard, the house has already spent over two and a half years on market.
Set on 5,700 square metres, the abode consists of a three bedroom, one bathroom house.
The listing states that the holding held past approvals for up to 15 cabins to be built on the site.
The home last sold in 2012 for $700,000.
Built in 1985, the home is located near the centre of town and features a large garage/workshop plus a showroom.
According to CoreLogic, in Andamooka the annual change in median price over the past 10 years is -16.7%.