$35,000 Broken Hill cottage ranks as cheapest weekend sale
Broken Hill had the state’s cheapest October auction offering — which was snapped up for $35,000 by an investor who will flip the mining town cottage.
The onsite auction had just the two phone bidders for what First National agent Mitchell Halpin marketed as “a renovators’ delight”.
Offered under instructions from the NSW Trustee & Guardian, the three-bedroom cottage came with outdoor toilet and laundry.
The home also has a new roof, which cost about $25,000 after the 2016 hailstorm.
Broken Hill is one of the most active housing markets in NSW with 200-plus sales so far this year.
Prices start at $30,000 and have fetched $521,000.
The local buyers and occupants come especially from the teaching, mining and medical professions.
The big property sales this year have been retail offerings.
The Harvey Norman store fetched at $1.09 million, reflecting a 9.9% yield, and the KFC premises sold at $1.2 million.
The Catholic Church spent $850,000 to buy back the former St Joseph’s Convent after a four-decade gap.
This article first appeared in The Daily Telegraph.
