'Tiniest house in Ballarat': Renovated cottage on the market for around $400k

It's believed to be the tiniest house available to buy in Ballarat right now, but that hasn't stopped buyers flocking to this Golden Point property.

Listed last week, ten groups had registered to inspect the detached house, which at 46 square metres is smaller than most Melbourne apartments, before Victoria's latest lockdown put an end to inspections.

"It's gone crazy," listing agent Jason Ingram of Wilson Estate Agents said.

The house, located at 321 Main Road, Golden Point, had been extensively renovated by the current owners, with a new bathroom and kitchen added.

They had been planning on using the property as an Airbnb listing but had opted to sell and consolidate their investment portfolio.

Mr Ingram said the listing's popularity amounted to a rejection of the popular thinking that moving to the country is all about buyers being able to get more space for their money.

"There's still a market for someone who is on their own or its just the two of them and [they want] something that's got character," Mr Ingram said.

"It's what everyone wants: a renovated, period home," he added.

With a price guide of $390,000 to $410,000 the property, which sits on a 202 square metre block, also offered a rare entry point into the city's oldest suburb, Mr Ingram said.

Mr Ingram said that "the market now starts at $400,000" for unrenovated properties in less desirable suburbs, making this property a rare find.

Interest had come from a mixture of Ballarat and Melbourne buyers, with some considering using the property as an Airbnb listing.

The one-bedroom main house is complemented by a backyard studio which could be used as a home office or additional sleeping accommodation.

Vendor and serial property renovator Leah Cunningham had purchased the property last year with husband Shane, with a view to either flipping it or renting it out on Airbnb.

"We wanted to see what it turned out like first but we just thought with the property market as it is it was a good time to sell," she said.

The couple "liked little properties that were small and quirky," and had fallen in love with the property on first inspection.

"We just find that those sorts of houses are a good investment and have a good return on them. A lot of people in this day and age are looking for a smaller property to get into the market or to live in, for busy people a small property without the maintenance is perfect," Ms Cunningham said.

CoreLogic records indicate the property last sold for $250,000.

The house was in original condition when the Cunningham's took ownership.

"It was very old and run down," Ms Cunningham said.

While the listing's popularity had taken Mr Ingram by surprise, it follows an increasing acceptance of smaller properties in the city.

He cited the recent sale of a renovated apartment at 1/18 Webster Street, also owned by the Cunningham's, for $410,000 as evidence that apartment living was no longer a trend restricted to capital cities.

"I sold an apartment in that complex two or three years ago and it was like pulling teeth trying to get a buyer, whereas this one had multiple offers," he said.

This story Apartment-sized regional house a surprise hit with buyers first appeared on The Courier.