Foldable home sells for unbelievably cheap price

A foldable Aussie home has sold for an unbelievably cheap price.

Listed on online retail and auction company Grays, the "expandable container house with en suite" has changed hands for just $25,000 after 76 bids - Australia's least-expensive property auction.

Also referred to as a donga - Aussie slang for a box home that can be moved around - the one-bedroom, one-bathroom property can be "folded up", ready to transport.

Grays currently have three fold-out dongas listed for online auction, including one where bidding was just $7,530 - after 53 bids and 24 hours to go - at the time of publication.

READ MORE: Patch of weedy grass in Sydney's Mosman sells for $8 million

Occupying just 35 square metres, the foldable abode features a sleek black and white exterior with lattice windows. 

There are eight sliding windows that can be locked as well as a faux timber floor.

The buyer can make use of the shower with hot and cold water already in place. However they will have to install their own shower head.

An electrician will also need to be called upon to install the wiring. 

READ MORE: The buyer of this $5 million estate will never have to fly commercial again

With the cost of living crisis leaving many Aussies feeling the pinch, a tiny home could be a temporary and affordable option.

New data shows that rapidly rising interest rates have increased mortgage repayments by more than $1000 per month on a home loan of $500,000.

The Reserve Bank lifted interest rates to an 11-year high of 3.6 per cent this month, leaving borrowers facing a 50 per cent increase in mortgage repayments.

Property News: How this three-bedroom home sold for $120,000.