‘Australia’s cheapest’ block of land sold
A "dirt cheap" block of land in the Victorian outback has sold less than a week after it was listed with a $10,000 asking price.
The rare property ended up selling for twice that, following significant buyer interest, meaning the seller has quadrupled their money in just five years.
Ray White Mildura's Brett Driscoll said he had received 10 offers for the 1182sq m block at 14 King Street, Werrimull, within six days of listing it.
A Mildura man, who lives about 45 minutes away, will take over the title after offering to pay $20,000 for the property.
He intends to build a small holiday shack to use as a weekend getaway, though may build a full-scale residence down the track.
"It was just a $2000 deposit for the block, with the balance to be transferred directly at the end of January," Mr Driscoll said.
The block - which was priced at less than that of an up-market TV - attracted other offers at $18,000 and $19,000, as well as many more between $10,000 and $15,000.
It drew interest from as far away as Melbourne and Sydney, and only one offer was subject to finance.
The seller paid about $5000 for the property five years ago.
Mr Driscoll said land in Mildura typically sold for $100,000-$150,000, and it could be quite some time before another block hit the market with a $10,000 price tag.
About 40 minutes from the New South Wales and South Australian borders, Werrimull has its own Australian rules football team and a school, as well as Victoria's most outback pub - the Werrimull Hotel.
Originally published as 'Australia's cheapest' block of land sold