Three-bedroom Culcairn home sells for just $157,500 at auction

The three-bedroom place on Melville Street, set on almost 900 square metres, sold at auction for a mere $157,500 on Tuesday, June 4.

An opening bid of $130,000 was taken by auctioneer James Kerley, who described the property as "the best value in the country right now" with the "most exciting reserve price I've seen all year".

It was increased to $140,000 after a $10,000 rise from a second party, before it crept to $150,000 with three smaller bids to get the home on the market.

The second bidder looked to have it secured with a bid of $155,000, but after much convincing, the initial aspirant upped it to $157,500 and became the new owner.

Agent Mark Beale, of Ray White Albury North, said it was one of the more unique listings he'd come across.

He said the owners purchased it in 2020 for $140,000, but had recently moved to Lavington and were keen to sell quickly.

"They work in Albury, so the travel in and out was a bit too much for them on a daily basis, having young kids that were going to school in town," Mr Beale said.

"Especially with the RBA and the environment at the moment, they really wanted to get a result.

"We had strong interest because of the price point and the vendors were over the moon. It's going to help them a lot with everything that's going on at the moment."

The median house price for a three-bedroom home at Culcairn is $295,000.

Mr Beale said the agency has had plenty of recent success outside of Albury, with a three-bedroom home on Kirndeen Street at Culcairn selling for $375,000 last month.

"Places like Howlong, Culcairn, Walla and Jindera, there's a lot of people looking for those type of properties in those townships," he said.

"A lot of people, especially younger ones, for that sort of affordability and land size, it's a great opportunity for them."

Another three-bedroom Kirndeen Street property was also passed in.

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