Is this Rockhampton's cheapest house?
IS THIS Rockhampton's cheapest home?
For less than $100,000, someone with a good design eye could pick up this Berserker bargain.
The Ellis St property, described by agent Ray White Rockhampton as a renovator's dream, is one of the cheapest on the market in Rockhampton with a listing price of $99,000.
But real estate agent Kas Woch said it wasn't an unusual listing in a market primed for those looking to snag their first home or a good investment.
"Now is an excellent time to be buying," he said.
"Our market is down a little bit.
"We've had a bit of a slowdown in the mines, we've lost a little bit of population and that's given us a temporary oversupply."
It's something Mr Woch believes will change, if Rockhampton's market history is anything to go by.
Mr Woch said the region experienced similar low prices in 2003 before seeing 20% growth annually for four years to December 2007.
"When you see what's going on down south, it's only a matter of time before it filters up here," he said.
"Why wouldn't you come up here and buy a house for $150,000?
"It's nothing for people in Melbourne to be buying houses in Rockhampton for investment.
"If you get enough of those people coming up here, they drive the prices up."
Mr Woch said while the market was attractive for investors, it was also a good chance for first home buyers to take a leap onto the property ladder.
He said one couple who this week bought a house from Kas Woch Real Estate would now spend less on mortgage repayments than rent.
Kas Woch's best bargains
33 New Exhibition Rd, Wandal: This newly re-stumped home is fully concreted underneath with three bedrooms on the main level. On the market for $159,000 negotiable.
5 Morrell St, Gracemere: If you want a new-look brick home Mr Woch said it was hard to go past Gracemere. This 6-year-old home presents as brand new, with four bedrooms, two bathrooms, two living areas and a double lock-up garage. On the market for $264,000 negotiable.