403 Cummins LaneBroken Hill NSW 2880
Property Details for 403 Cummins Lane, Broken Hill
403 Cummins Lane, Broken Hill is a 3 bedroom, 1 bathroom House with 1 parking spaces. The property has a land size of 858m2. While the property is not currently for sale or for rent, it was last sold in April 2021.
Last Listing description (April 2021)
Situated on a 905sqm lot , side access to the backyard and neat tidy appearance the home is priced to sell , it would suit first home buyer or investor. With a central and sought after location , this neat tidy home certainly warrants further investigation. Council and water rates approx $2200 per year
Agents Note:
1. It is highly recommended that all purchasers have pre-approved finance before booking inspections. This is a requirement for all inspections.
3. All properties will stay on the market and all offers will be presented to vendors right up until an exchange of contract.
4. The agent is obliged to submit all offers to a vendor even though there might be an offer and acceptance between buyer and seller. This is known as gazumping and it is legal in NSW.
5. It is the responsibility of the purchaser to efficiently exchange a contract of sale, otherwise gazumping can occur.
Gazumping
Gazumping occurs when you have a verbal agreement with an agent or seller to buy a property at an agreed price but the property is not sold to you in the end. This usually happens when the vendor (the person selling the property) has decided to sell the property to someone else, usually for a higher amount or better sale conditions. The agent is legally obliged to pass on to the vendor any further offers received for the property up until the exchange of contracts.
If you are gazumped, neither the agent nor the vendor is obliged to compensate you for any money you may have spent on legal advice, inspection reports, finance application costs or inquiries.
In NSW, a property sale is generally only binding on the vendor and buyer when contracts are exchanged between the two parties. Exchange occurs when the vendor signs their copy of the sale contract; the purchaser signs their copy, and the two parties exchange' their signed contracts. It is usual at this time for the purchaser to pay a deposit, usually 10% of the purchase price.
https://www.fairtrading.nsw.gov.au/housing-and-property/buying-and-selling-property/buying-a-property/gazumping
Property Code: 619
Property History for 403 Cummins Lane, Broken Hill, NSW 2880
- 20 Apr 2021Sold for $60,000
- 19 Apr 2016Listed for Sale $89,000
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0About Broken Hill 2880
The size of Broken Hill is approximately 13004.9 square kilometres. It has 43 parks covering nearly 2.2% of total area. The population of Broken Hill in 2016 was 17814 people. By 2021 the population was 17706 showing a population decline of 0.6% in the area during that time. The predominant age group in Broken Hill is 60-69 years. Households in Broken Hill are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Broken Hill work in a professional occupation.In 2021, 72.20% of the homes in Broken Hill were owner-occupied compared with 71.90% in 2016.
Broken Hill has 11,320 properties. Over the last 5 years, Houses in Broken Hill have seen a 89.65% increase in median value, while Units have seen a 59.49% increase. As at 31 March 2026:
- The median value for Houses in Broken Hill is $223,171 while the median value for Units is $576,080.
- Houses have a median rent of $360 while Units have a median rent of $260.
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