A three-bedroom home best described as a true diamond in the rough has hit the market and it isn’t just a much cheaper alternative to city prices, it could also land you a small fortune.
The cabin, located in the rural NSW town of Lightning Ridge, is listed for just $65,000 and offers the opportunity to live in one of the very few places where you can mine a rare gem.
Lightning Ridge is a small outback town in north-western New South Wales which is situated near the southern border of Queensland, best known for its abundance of opals.
The three-bedroom home is fully solar powered with a rainwater tank, one bathroom and two car spaces.
If it couldn’t get any better than that, Lightning Ridge has a storied mining history and is littered with rare black opals.
The cabin in the rural town of Lightning Ridge is listed for just $65,000 and offers the opportunity to be in one of the very few places where you can mine a rare black opal
Just one carat of a high quality black opal can fetch up to $15,000 – making the rare gem one of the most valuable gemstones in the country
Just one carat of a high quality black opal can fetch up to $15,000 – making the rare gem one of the most valuable gemstones in the country.
Glen Ryan, who is currently selling the state’s cheapest home, told realestate.com buyers were being enticed by the prospect of mining up a rare black opal.
‘Lightning Ridge itself is black opal country, and I think it’s a good metaphor for the market right now. You’d be surprised how many buyers drive the eight hours just to pay less than $1000 on their annual rates and lease costs,’ said Mr Ryan.
‘Houses out here can sell for as little as $35,000 all the way up to $250,000. A lot of people like escaping the hustle and bustle of the Coast and city life, it can be the perfect getaway for families on holiday too.
‘There’s also potential for future development, with room for expansion and space for equipment.’
The three bedroom home is located in an outback mining town is fully solar powered with a rainwater tank, one bathroom and two car spaces
Mr Ryan said the cabin is ideal for a couple or a single person looking for an affordable and quiet lifestyle.
The house prices in Lightning Ridge have fallen by 17.6 per cent according to data from realestate.com.au yet the median house price still sits at $175,000.
House prices in Lightning Ridge have fallen by 17.6 per cent according to data from realestate.com.au yet the median house price still sits at $175,000
Glen Ryan, who is currently selling the state’s cheapest home saidbuyers are being enticed by the prospect of mining up a rare black opal
