Is this Australia's cheapest city home? Two-bedder sells for $135,000
A two-bedroom home, just 40 minute drive away from the heart of Adelaide, has sold for about $300,000 less than the city’s average house price.
The two bedroom maisonette or semi-detached house was advertised for just 10 days at $135,000 on realestate.com.au, before it was snapped up.
The bedroom boasts two “spacious” bedrooms, timber and carpet flooring, an open fireplace, a modern kitchen and a timber decked entertaining area and is located in northern Adelaide suburb, Elizabeth Park.
Real estate agent Tamir Dunning, from TD Real Estate, told Yahoo News Australia the property the house is now “under contract”.
Mr Dunning also said the property had a lot of interest from not just people in South Australia, but investors from other states too, mainly because of the low price.
The house is also relatively close to public transport and right across the road from Elizabeth Park Primary school.
The median house price in Elizabeth Park is $209,000 and families and couples make up most of the residents.
Although the maisonette is under contract, with the sale expected to go through, there are other homes in the Elizabeth Park area which are expected to sell for a considerable amount under the median price.
A three bedroom home on Kilsby Street is asking for $150,000 to $165,000 and another three bedroom house on Cranborne Street is asking for between $170,000 and $180,000.
The median house price in Adelaide is around $470,000, making it the second most affordable city in Australia, according to realestate.com.au’s April 2019 property report.
Mr Dunning also said the housing market in South Australia “keeps chugging along”.
Earlier this year, Adelaide suburb Highbury topped a list of suburbs for the best house price growth and another three Adelaide suburbs made the top ten.
While the median house price in Sydney, which is Australia’s most expensive city, is upwards of $930,000.
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