Dallas cheapie sells for $140,500

A one-bedroom unit in Dallas was the weekend’s most affordable auction sale in Victoria, according to Australian Property Monitors.

Located at 5/18 King Street, the unit sold for $140,500 through Barry Plant Glenroy.

Listing agent Chris Vallis told Property Observer that about 20 people attended the auction, with three registered bidders but “two genuine bidders”.

Vallis added that the market in Dallas has picked up over the last six to eight weeks due to the lower interest rates. 

“About 90% of the market has realised that the prices of the homes are steady for awhile. If you don't get in while interest rates are low, you’re looking at quite a different price,” he said.

He also noted that both first-home buyers and investors are purchasing properties in Dallas at the moment.

According to the latest RP Data report, the median asking rent for units in Dallas is $293 per week.