The Australian suburb where you can buy a three-bedroom home for less than the price of a new car
- Three bedroom home in Victoria's northwest is on the market for $60,000
- The property is in the tiny town of Underbool on Victoria South Australia border
- But the low price has already attracted eight offers from keen bargain hunters
- Melbourne's median house price is 12.5 times the price at $750,000
Househunters could snap up a three-bedroom home for less than the cost of a brand new car.
A property at 29 Monash Avenue at Underbool in Victoria's northwest is up for sale for only $60,000.
But the low price has already attracted eight purchase offers and racked up more than 10,000 views for the property's online listing.
A property at 29 Monash Avenue at Underbool in Victoria's north west is up for sale for only $60,000
This is despite the property's location in a tiny farming community with a population of just 215 people.
The real drawcard seems to be the home's distance from major cities, and ease of access to nature including the renowned Pink Lakes and the Murray River.
While the town has a primary school and general store, it is 150km south of Mildura and 476km north west of Melbourne.
Underbool's only pub has also been closed for the last two years, but the watering hole is also up for sale for interested buyers.
Realtor Ian Miers from Burns & Co Mildura said the coronavirus pandemic has been driving buyers out of major cities and into the countryside.
The three-bedroom home sits on a 1244sqm block of land with a massive backyard and a water tank
As an added bonus buyers can move into the home fully furnished
'And with the COVID-19 situation in Melbourne, the last three properties I've sold, in Ouyen, were all to people escaping Melbourne,' Mr Miers told realestate.com.au.
Those looking to purchase the property include buyers from Canberra, and those from the bushfire affected town of Cann River in East Gippsland.
The three-bedroom home sits on a 1244sqm block of land - around three times the average lot size in Melbourne's greenfield estate.
The $60,000 price tag is also 12.5 times less than Melbourne's median house price of $750,000.
Mr Miers said the house has a big backyard and comes with the bonus of an antique oven which could fetch a decent price on its own.
The home has three bedrooms and two bathrooms
'(The house has) a lovely big backyard, 11ft (3.35m) ceilings, and a fair bit of charm and character about it,' Mr Miers said.
'It has a magnificent old slow-combustion stove in it — if I pulled that out, I could probably sell it for $3,000-$4,000.'
As an added bonus buyers can move into the home fully furnished, with all kitchenware included.
The home also features two bathrooms, a full width verandah which is covered at the rear, a butler's pantry, and a water tank.
Meanwhile the town pub is also up for sale at around double the price of $170,000 - $187,000
Meanwhile the town pub is also up for sale at an asking price of around $170,000 - $187,000.
Underbool has sold three properties for the $60,000 mark from July 2016 January 2017.
Several dilapidated properties also sold in the town for less than $10,000 in 2015 which were set for demolition.
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