Region now allowing property to be purchased using bitcoin
THIS 600sq m vacant property on Connors Rd in Helidon might look like any other ordinary listing.
But it might be the first real estate property in the Toowoomba region that you can buy with bitcoins.
Coronis agent Craig Gillies said the owner of the property in the Bella Vista housing estate was open to offers paid for in the cryptocurrency.
Bitcoin is a worldwide payment system, notable in that it works without a central repository or administrator, like a bank or a federal government.
Its price fluctuates aggressively but is quite valuable right now, with one bitcoin worth nearly $15,000 as of this morning.
Mr Gillies said the listing came about because the owner had paid his lender for the mortgage, and was interested to test the waters with bitcoins.
"He's at the point now where he's able to offer the property for sale to be paid for by bitcoin," he said.
"It's also for sale if you turn up in Aussie dollars, but because there's a lot of press around cryptocurrency we decided to give it a go.
"It's the first one we've offered in bitcoin."
Bitcoin property sales are not new in Australia, with a Gold Coast financial planner just recently offering his sprawling mansion for sale for 500 coins.
The Helidon property is listed for sale at $118,000, which is worth about eight coins, but Mr Gillies said the transaction rate would become fixed when a sale was ready to proceed.
"You would have to strike an exchange rate at a certain time," he said.
"We have received half a dozen enquiries already, mainly around how it might work - there's probably a bit of curiosity involved."
Mr Gillies said he expected cryptocurrency to have a place in real estate in the future.
For more information, call Craig Gillies on 3105 5777 or check out the online listing.