A BLOCK of land in Werrimull dubbed the cheapest in Victoria — and possibly Australia — has sold for double its asking price after just days on the market.
The 1182 square-metre property at 14 King Street was listed last Tuesday for $10,000 and sold to a Mildura man on Monday evening for $20,000.
Ray White Mildura senior sales and marketing specialist Brett Driscoll said the bargain property garnered a lot of attention across Australia.
“While we do sell properties for over the advertised price, it pretty much never happens that it sells for double the price, so obviously the vendor is very excited,” he said
“I probably had about 60 inquiries, both phone and email, and there was a lot of interest from Melbourne and a little bit in Sydney.
“However, a lot of the interest was from people in Mildura.”
The residential block is located just minutes from the local school, post office and the Werrimull Hotel, which Mr Driscoll said were major selling points.
“There’s also the fact that it’s over a quarter of an acre and that it has a bushland reserve next to it, which is a great advantage for someone who wanted to build and have no neighbours,” he said with a laugh.
While some interested buyers were keen on investing or simply the novelty, Mr Driscoll said the land was instead destined to house a holiday home.
“At this stage (the buyer) just wants to get things settled by the end of January, but then he was going to start plans from there.”
Mr Driscoll said many buyers were turning to remote areas such as Werrimull as an alternative to blocks in Mildura and its surrounding areas.
“I would estimate the median price (for land in Sunraysia) to be $130,000 to $135,000,” he said.
“I’ve just sold another property out the back of Red Cliffs on Woomera Avenue for $55,000, but other than that they don’t often come up that affordable.”
