The surging price of property in Australia is a commonly heard refrain – but one recent NSW house sale bucked this trend and, in the process, became one of the bargain buys of the past year.

A cheap and cheerful two-bedroom Colorbond-clad house, sitting on 2,049-square-metres of land, was sold to a buyer for less than the price of a brand new SUV.

The house is also within walking distance to the main town centre, roadhouse and school.

And while it could benefit from a good, solid renovation and freshen-up, it was ultimately still in a habitable state when it was put on the market.

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The final selling price under the hammer? A mere $31,000.

So, what’s the catch? The main one is that the house is located in the rural outback NSW town of Wilcannia.

Located over 10 hours’ drive west of Sydney or around eight hours northeast of Adelaide, the nearest major city to Wilcannia is Broken Hill – and that’s two hours’ drive away.

But even in spite of its remote location, there’s no denying that the property was an absolute steal for the buyer when compared to current nationwide house prices.

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By the end of 2025, the median Australian house price was around the $980,000 mark – with the house at 1-3 James Street, Wilcanniasold for under four percent of that amount.

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Selling agent Marty Deacon, Director/Principal at Elders-Deacon Real Estate Milduratold Daily Mail that although the price may seem low to buyers accustomed to paying hundreds of thousands of dollars for Australian houses, it was still a hotly contested auction.

‘There was strong competition with seven registered bidders in the end,’ Marty said. ‘A buyer from Melbourne secured the final bid on the day.

‘Price-wise, it sold for what was expected, given previous comparable sales in the area.’

Marty explained that the property presented an interesting prospect for investors like the new home owner because rental properties in Wilcannia are ‘in short supply’.

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‘Locals say that rental properties are always sought after,’ he added.

Wilcannia has a population of 735 people and the average household income is $1,211 per week. The small, remote community is based on the Darling River, with Marty noting that ‘the town has a large indigenous population and is surrounded by pastoral grazing properties’.

And Marty predicts that Wilcannia is a place on the rise, thanks to a number of ‘exciting developments’ underway.

‘The town is currently having some major infrastructure upgrades,’ Marty said.

‘Employees working on these projects will require accommodation, which can be very limited in town.’

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The realtor predicts this has created an interesting property scenario in Wilcannia where there will be an increased need for affordable and comfortable rental properties for short-term workers.

But interestingly, those who are assigned to these projects for longer periods might even consider buying in Wilcannia and becoming homeowners while employed locally.

The median house price in Wilcannia is currently valued at $85,000.

‘Purchasing a home might even be better value than taking temporary accommodation in parks and AirB&Bs for those on lengthy contracts.’

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The split between property renters and owners in the town currently sits at 43 per cent homeowners and 51 per cent renters.

Although the recent purchase of 1-3 James Street, Wilcannia in November 2025 is a steal on paper, the new buyer will most likely need to stump up a bit of extra cash to make some much-needed improvements and elevate the house to become an attractive rental prospect.

The house is described in the listing as having ‘solid bones and loads of space’ – but admittedly requires a few updates to ‘bring it back to life’.

For instance, the listing openly declared certain elements that are no longer functioning and in need of immediate repair – such as the kitchen’s electric stove and in-home ducted cooling. The kitchen also currently has no cabinetry.

One of the house’s bedrooms also ‘requires renovation’ and is unusable until fixed.

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Multiple rooms in the house lack proper flooring and are currently just cement.

And the new owner will probably need to invest in skip-bin hire to do a thorough clean-up of old debris and unused furniture scattered throughout the property.

But with a little capital and some elbow grease, this property could easily soon return to its glory days.