Rundown renovator’s delight snapped up for $80k as bargain-hunters chase cheap houses

Key points

• A termite-damaged weatherboard house in Rupanyup, Victoria, sold for $80,000 in September, making it the cheapest home sale in Australia that month. The median house price in Australia reached $974,000 in September, according to the realestate.com.au Home Price Report.
• Five of the top 10 cheapest sales across Australia in September took place in Victoria, with the cheapest sales by state ranging in price from $95,291 in Mornington, Queensland to $118,000 in Goldsborough in Victoria, to $130,000 in Derby, Western Australia.
• The new owners plan to renovate and live in the property once termite and water damage are remedied.