The cheapest property currently on the market: A $20,000 home

This dilapidated home last sold for $15,000 in February 2011, and is now on the market for $20,000, a 25% increase in three years should it sell for its asking price. It's the cheapest we could find currently listed, with a detached house, and as such as us asking whether there's a Property Observer reader keen to have a look.

{yoogallery src=[images/stories/2014/01/29/kor]}

124 Vernon Street, Korong Vale, Victoria is on 990 square metres of land and offers us a fairly sketchy view through the listing photographs of what is actually inside of the “old derelict house”.

With a fireplace, bare floorboards, a water tank, and what looks like it may be a broken roof, it’s certainly one for doing up or rebuilding.

It’s a short drive from gold mining town Wedderburn and the Wychitella Forest Reserve, walking distance to a general store, children’s playground, golf course and local hotel, and is advertised towards “gold fossickers and nature lovers”.

Korong Value is about two and a half hours from Melbourne CBD and nearby to Lake Donald, a popular hunting ground.

It is listed with Elders Real Estate in Bendigo.



Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?