29 Monash Avenue, Underbool is on the market for an affordable $60,000.
Buyers from far and wide are scrambling to secure a house listed for the price of a luxury car in a town renowned as “the gateway to the Pink Lakes”.
The three-bedroom house in Underbool, in Victoria’s northwest, had attracted about eight offers since hitting the market with a $60,000 asking price, Burns & Co Mildura agent Ian Miers said.
It also accrued more than 10,000 views on realestate.com.au to be one of Victoria’s most popular listings of the past week.
Mr Miers said the price point had clearly been attractive, with Melbourne’s median house price a whopping 12.5 times higher at $750,000, according to realestate.com.au.
RELATED: Victorian housing affordability best since 2000
Faith in country church resurrection pays off
Regional Victoria building boom as Melburnians look outside capital
Buyers from across Victoria, and interstate, have made offers on the home.
The property is 12.5 times cheaper than Melbourne’s median house price.
The 29 Monash Avenue property also occupied a substantial 1244sq m block — three times the average lot size in Melbourne’s greenfield estates.
“(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 $3000-$4000.”
An old slow-combustion stove is a standout feature.
The quaint kitchen.
A big backyard is a selling point for the home.
Among those in contention for the property were buyers from Canberra and bushfire affected Gippsland town Cann River looking to move to Underbool, which had a population of just 215 at the time of the latest census.
A “beekeeper chap from down near Winchelsea” in the Surf Coast Shire was also in the mix, Mr Miers said.
“They’re from all over the place,” he said.
“And with the COVID-19 situation in Melbourne, the last three properties I’ve sold, in Ouyen, were all to people escaping Melbourne.”
The Underbool Hotel is also up for grabs.
The pub hasn’t operated for about two and a half years.
Mr Miers said Underbool was a farming community that offered a “lovely lifestyle” near the famed Pink Lakes and Murray River, with plenty of good fishing and camping spots nearby.
The town itself had a local store, a primary school, and a pub that was also on the market.
The century-old Underbool Hotel has a $170,000-$187,000 price guide, and has also attracted a couple of offers.
“It’s the only hotel in town and it hasn’t operated for about two and a half years,” Mr Miers
“The locals would love to see that open up again.”
MORE: Lenders scrutinise buyers in pandemic-affected industries
Trafalgar South property comes with glamping business, mini donkeys
Melbourne home values to be worst hit by COVID: ANZ
The post Underbool: $60k house for sale in Victoria’s northwest goes viral appeared first on realestate.com.au.