Australia's real estate market is as diverse as its landscape, ranging from bustling metropolitan hubs to tranquil coastal retreats and expansive rural outposts. In this article we look at the most expensive and the cheapest 3-bedroom houses in Australia (sold within the last 12 months).
We have also gathered data from the most expensive and cheapest 3-bedroom houses for each state and territory in Australia.
Most Expensive 3-Bedroom House in Australia
$23.5 Million - 8 Wolseley Crescent, Point Piper, NSW
3 Bed, 4 Bath, 2 Car, 263m²
There is no surprise that the most expensive 3-bedroom house in Australia is in Sydney, which has the highest median house prices of any capital city. While it only sits on a tiny parcel of 263 m² land, it has a lower level, middle level, street level and upper level, enabling the residents to make use of a total of 381 m² of internal house space. The beautiful water views from several rooms including the living area and the master bedroom are the main reasons why this house commands such a high price.
Cheapest 3-Bedroom House in Australia
$8,000 - 14 George Cowcill Street, Kambalda East, WA
3 Bed, 1 Bath, 1 Car, 989m²
On the other end of the end of the spectrum, the cheapest 3-bedroom house in Australia sold for only $8,000 last year, cheaper than most people's cars! While this may sound like a bargain, looking at the pictures will give you a good indication of why it was so affordable. It was built in 1969 and has been poorly maintained, and was home to a hoarder. The buyer would need to spend a good amount of money to renovate or knock it down for a complete rebuild, before it could be suited for living.
Now you have seen both extremes of the housing market in Australia. You might also be interested in the most expensive and cheapest houses that can be found in each state. Scroll through the list to find the state or territory of interest.
Most Expensive 3-Bedroom House in NSW
$23.5 Million - 8 Wolseley Crescent, Point Piper
3 Bed, 4 Bath, 2 Car, 263m²
The most expensive 3-bedroom house in NSW, sold in the last 12 months, lies in Sydney's most expensive suburb, Point Piper. Despite occupying a modest 263 m² plot of land, this house maximises its space with a lower level, middle level, street level, and upper level, offering a total of 381 m² of internal living area. The stunning water views from multiple rooms, including the living area and master bedroom, are key factors in the property's premium pricing.
Cheapest 3-Bedroom House in NSW
$50,000 - 193 Wills Street, Broken Hill
3 Bed, 1 Bath, 2 Car, 714m²
The cheapest 3 bedroom house you can find in NSW is found in Broken Hill. Considering the state of the house and the renovations and repairs that will need to be done, $50,000 doesn't seem like that great of a deal. Particularly when the median 3-bedroom house price in Broken Hill is only $207,500. We would be interested to see the new life given to this house by the new owner, and wonder what the price would sit at once it is liveable.
Most Expensive 3-Bedroom House in Victoria
$8.912 Million - 17 Albany Road, Toorak
3 Bed, 3 Bath, 3 Car, 558m²
In the previous 12 months, the most expensive 3-bedder sold in Victoria was an acreage in Boneo with over 70 hectares, with a sale price of $15.5 million. However, this large value is mainly due to the large land size, and less to do with the modest brick house built upon it. To get a better idea of the most expensive house as opposed to land, we found the 2nd most expensive 3-bed house, just shy of $9 million. It is located in Victoria's most expensive suburb, Toorak, which has a median house price of $5.18 million.
Cheapest 3-Bedroom House in Victoria
$50,000 - 45 Elizabeth Street, Serviceton
3 Bed, 1 Bath, 711m²
Victoria's cheapest 3-bed house is located in Serviceton, 383km from Melbourne CBD. It sold for $50,000 and while it is not in great condition, it doesn't look like it needs as much work as the cheapest house in NSW. However, considering the median house price in Serviceton is only $164,000, we don't see this as a bargain buy. Interestingly, back in 2006 it also sold for exactly $50,000, but in 2003 it sold for only $7,000!
Most Expensive 3-Bedroom House in Queensland
$15 Million - 78-81 Stanhill Drive, Chevron Island
3 Bed, 3 Bath, 3 Car, 2024m²
The most expensive 3-bedroom house in Queensland is this beautiful waterfront property, which spans four blocks on 2024m². It has almost 60m of frontage to Main River, giving beautiful water views from the swimming pool and various rooms in the house. The house was built in 2004 but has been continually updated, and still maintains a modern look 20 years later. It is the perfect entertainment house with its huge alfresco area, outdoor kitchen and large living areas and open spaces.
Cheapest 3-Bedroom House in Queensland
$50,000 - 104 Edward Street, Charleville
3 Bed, 1 Bath, 1119m²
The cheapest Queensland 3-bed house sold for $50,000 and is in considerably good condition compared to the $50,000 houses in NSW and Victoria. While we wouldn't describe it as luxurious, it is definitely liveable and even has air conditioning in all 3 bedrooms. With some minor renovations and repairs, this house would be easily rentable and a great investment opportunity.
Most Expensive 3-Bedroom House in WA
$8 Million - Undisclosed address, Mosman Park
3 Bed, 3 Bath, 2 Car, 1000m²
The most expensive 3-bedroom house in Western Australia lies in Mosman Park, the 7th most expensive suburb in Perth, with a median house price of $1.9 million. It sold for $8 million last year, but the exact address and photos of the property have been kept hidden from the public. What we know about the property is that it has 180 degree panoramic views of the river, offering a beautiful backdrop for this house. It is also described as exuding charm and history, so we imagine it must be an older house that could do with a modern makeover.
Cheapest 3-Bedroom House in WA
$8,000 - 14 George Cowcill Street, Kambalda East, WA
3 Bed, 1 Bath, 1 Car, 989m²
The cheapest house in WA is also the cheapest in all of Australia, and it sold for only $8,000 last year! Taking a look at the pictures will give you an indication of why the price is so low. It was built 55 years ago and has not been well maintained. It is filled with junk from the hoarder who lived there previously and will require a lot of time and money put into it.
Most Expensive 3-Bedroom House in SA
$3.825 Million - 12 Robert Street, Glenelg South
3 Bed, 2 Bath, 2 Car, 1292m²
South Australia's most expensive 3-bed house sold for a modest $3.825 million, much lower than the highest sales in states such as NSW, VIC, QLD and WA. Looking at the photos of the house, we don't find it lives up to its high price tag. It was built in 1925 and although the interior has been renovated, it still appears a little dated, with not much that stands out. However, we understand that this house sits on a large block of land of 1292m², and it is located in arguably the most desirable street in the blue-chip suburb of Glenelg South, with a median house price of $2.325 million.
Cheapest 3-Bedroom House in SA
$35,000 - Lot 647 Government Road, Andamooka
3 Bed, 1 Bath, 2 Car, 1018m²
The cheapest house in South Australia is extremely unique, as it is an old railway carriage that has been converted to a 3 bedroom residence, with a kitchen/dining room, living area and bathroom in the extension. It is situated on a large block of 1018m² overlooking the opal fields. It even comes with a large garage, workshop and carport to make use of the land. For $35,000 we would consider this one of the best options for living on a budget.
Most Expensive 3-Bedroom House in Tasmania
$2.701 Million - 5 Mona Street, Battery Point
3 Bed, 1 Bath, 3 Car, 668m²
Tasmania's most expensive 3-bedroom house is located in Battery Point. It sold for $2.701 million, and is well above the median house price for the suburb, which is $1.45 million. We personally don't see the value in this house, as it was built in 1939 and remains mostly in original condition. While it does have distant views of the River Derwent, we don't believe this makes up for the high price tag.
Cheapest 3-Bedroom House in Tasmania
$80,000 - 20 William Street, Waratah
3 Bed, 1 Bath, 697m²
On the other end of Tasmania's property market sits this Waratah house, which sold for $80,000 this year. It sounds like a bargain price, but you can see the condition of the house from the photos. It is currently not connected to electricity, although it is available, and is NOT sewer serviced. It will take a lot of effort to renovate it, but we would be excited to see the end result. It is in a peaceful location next to the Tarkine wilderness, and only 40 minutes from the coastal city of Burnie, as well as 40 minutes from the famous Cradle Mountain.
Most Expensive 3-Bedroom House in the ACT
$2.785 Million - 22 Godfrey Street, Campbell
3 Bed, 3 Bath, 2 Car, 308m²
The most expensive house in the Australian Capital Territory is $2.785 million and is located on a small block of 308m² in Campbell. The house is beautifully designed by architect Tynan Freeman and makes the most of the land by sitting on two storeys. The more you look at the photos, the more you fall in love with the small details that exude luxury, for example the Italian tiles, gourmet kitchen, quality carpet and triple glazed European windows. This is one of our favourite houses in this list, particularly as the price point is not ridiculously out of reach.
Cheapest 3-Bedroom House in the ACT
$432,000 - 38 Armstrong Crescent, Holt
3 Bed, 1 Bath, 2 Car, 774m²
The cheapest house in Australia's capital is much more expensive than the cheapest houses in the other states and territories. It sold for $432,000 and looks in decent condition from the outside. However, it ends there, as it is an unfinished house that has been sitting untouched for a few years. Since it is not inhabitable it will take a few hundred thousand dollars to finish this project. We doubt that there is value in this property, since the median house prices in Holt are only $747,500.
Most Expensive 3-Bedroom House in the NT
$3.25 Million - 98 Cullen Bay Crescent, Larrakeyah
3 Bed, 3 Bath, 2 Car, 1815m²
The Northern Territory's most expensive 3-bedder overlooks Cullen Bay and sits on a huge block of 1815m² in Larrakeyah. It cost almost triple the median house price of the area, of $1.25 million, but with the beautiful views and large open spaces it is easy to understand why. While it looks a little outdated, with some renovations, this house could become an amazing property and increase in value even further.
Cheapest 3-Bedroom House in the NT
$59,000 - 349 Millar Terrace, Pine Creek
3 Bed, 1 Bath, 1 Car, 832m²
On the other end of the housing market in the Northern Territory, we find this $59,000 house located in Pine Creek. Pine Creek is located 185km from Darwin CBD, and has a median house price of $156,000. Although this house built in 1980 is still in original condition, it remains inhabitable, and taking this into consideration, the sale price isn't unreasonable. With a little cleaning and minor renovations, the value of this house will increase, and it can be rented out as an investment property.
Conclusion
You might be surprised to see the prices of the cheapest and most expensive houses in each state and territory. Would you invest in the cheapest houses and renovate it for a quick buck? Which of the most expensive houses is your favourite? Leave a comment below about your thoughts, and let us know what other interesting insights into the Australian property market you would like us to cover next.