A FAMILY home could be yours for just £3,000, under a bold new scheme being launched by one town.
The remote Australian outback town of Coober Pedy is auctioning off a range of properties as the cash-strapped council looks to recover its losses.
As the cost of living crisis and soaring rents continue to make lives a misery for millions, fast-acting buyers could be on for the bargain of the century.
The remote town of fewer than 1,600 people lies around 500 miles northwest of Adelaide.
It was once known as the opal capital of the world due to its links to the mining industry, and it has become a popular tourist destination for visitors driving across the outback.
But more than a dozen properties in the small town will be auctioned off in an attempt to claw back unpaid council rates.
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Warren Andrews, director of Andrews Property, said he was selling the 16 properties over outstanding bills from tenants dating back three years.
They range from shops to blocks of flats, as well as unfinished underground dwellings.
Some of the homes are caves dug into the old mines.
He said that many of the properties were still in good condition, although some needed refurbishing or wiring.
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An 800m square residential block is going for a starting bid of around 5,000 Australian dollars (£2,707).
At the other end of the scale, an office building is going under the hammer for 800,000 Australian dollars (£433k).
Three-bedroom family homes vary between 30,000 and 550,000 Australian dollars (£16k to £300K).
Andrews said that the prices represented great value for money and a price that couldn't normally be found elsewhere.
He added that he expected a lot of out-of-state buyers to snap up the properties.
"I'm expecting a lot of buyers to be external," he said. "Coober Pedy attracts a lot of interest from New South Wales and Victoria.
"It's very cheap real estate."
However, only sunseekers need apply as it gets pretty scorching in the South Australian outback.
Coober Pedy sees virtually zero rainfall all year, and average temperatures in January, the hottest month, reach 30.3C.
The town also sees around 3,800 hours of sunshine a year.
In contrast, London gets 1,675 annual hours of sunshine on average, New York gets 2,535, and Manchester gets a dreary 1,415 hours per year.
This isn't the first time the town's local council has been forced to sell off real estate.
In 2021, 33 properties went to auction.
Andrews said he had been surprised at how much interest there was from out-of-state buyers seeking a slower pace of life.
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"I love my work in Coober Pedy because we do see buyers from all over Australia," he said.
The auction for the properties will take place on May 3, with an option for buyers to take part via teleconference.
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