cheap property

CHEAP: The Australian suburb where you can buy a three-bedroom home for less than the price of a new car

PHOTO: A property at 29 Monash Avenue at Underbool in Victoria’s north west is up for sale for only $60,000

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.

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.

‘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 

Those looking to purchase the property include buyers from Canberra, and those from the bushfire affected town of Cann River in East Gippsland.