A three-bedroom home in Western Australia has sold for just $22,000 — but there’s a catch.
The home, situated on 1,062m² in Merredin between Perth and Kalgoorlie, was sold through private treaty on January 23.
However the property contains asbestos, the listing by GEST Real Estate’s Stephen Nagle revealed.
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Owners can demolish the property and rebuild if they wish, or renovate the existing structure.
The three-bedroom, one-bathroom home is “in need of repair” but sits on an “expansive” block and is just two streets back from a school, the listing said.
“The good thing about knocking down and rebuilding is that you get to create the home you want,” the listing said.
“You choose the style and orientation, and you can make it as comfortable and energy efficient as your budget allows.”
Other current similar listings in Merredin on Domain range in price from $195,000 to $325,000.
The mean price of residential dwellings across Australia rose to $925,400 in the final quarter of 2023, according to the Australian Bureau of Statistics.