Bitcoin property: Australian sellers accepting crypto despite volatility

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Bitcoin Property
(Main image: Ray White Real Estate)

Australian home owners are continuing to seek Bitcoin property deals despite most cryptocurrencies dropping sharply in value over the past 12 months.

Micky has obtained a list of properties for sale in Australia, in which vendors are seeking part or full payment in Bitcoin or another cryptocurrency.

Topping the list is a three-bedroom, three-bathroom home in Surfers Paradise with an asking price of over AU$799,000.

Bitcoin property
Sellers if the home on Peninsula Drive, Surfers Paradise, will accept part payment in Bitcoin (Image: Ray White Real Estate).

Real Estate agency Ray White, who is handling the sale, says the current owner would like to receive part payment in Bitcoin, although it’s not clear what percentage they would be willing to accept in the digital currency.

A private listing in the Northern Territory goes a step further. The sellers happy to trade their entire property from some crypto.

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The apartment in Stuart Park, a suburb of Darwin, has an asking price of AU$600,000 or just over 126 Bitcoin based on prices today.

“We are happy to accept Bitcoin or any other major cryptocurrency instead of Australian dollars for this property,” says the owners.

The mysterious crypto enthusiasts are seeking a hassle-free direct crypto wallet transfer and have even decided to do without a real estate agent – listing their property privately.

Bitcoin property
The pool at the Northern Territory property that can be purchased using Bitcoin (Image: Realestate.com.au).

Elsewhere around the nation, a block of land currently for sale in the town of Helidon, Queensland, can be bought for AU$118,000 worth of Bitcoin.

“You can purchase this property entirely using Bitcoins… The relatively new cryptocurrency is surging in popularity,” the listing says.

Bitcoin property deals becoming mainstream?

The steady number of Australian property owners seeking cryptocurrency deals is going relatively unnoticed.

It was a different story throughout 2017 and 2018, however, when owners seeking payment in cryptocurrencies regularly made headline news in the mainstream Australian press.

The first known Australian property listing to accept Bitcoin was a home in suburban Melbourne with an asking price of around AU$900,000.

It listed in November 2017, making news across the country.

“It’s always nice to be at the trail-blazing end or the front of something that hasn’t been pioneered before… But bitcoin is a secure currency that’s booming,” said owner Robb Gadd at the time.

Outcome of recent multi-million dollar bitcoin property deal unclear.

In September 2018, one of Australia’s highest-profile Bitcoin property deals made world headlines.

A four-bedroom home in the Sydney suburb of Surry Hills was listed with an asking price of AU$5m – the owners willing to accept full payment in Bitcoin.

Bitcoin property
Vendors of the luxurious Surry Hills home were willing to accept $AU5m in Bitcoin (Image: Australian Financial Review).

At time Bitcoin traded at around US$6488.

“Yes it fluctuates, but I think it’s stabilising. I see Bitcoin as just another currency,” said owner Peter Maddison at the time

“We are positive there will be buyers who are attracted to this form of payment,” sales agent Joshua Charles told the Australian Financial Review.

Whether the sale was executed in Bitcoin or part-Bitcoin hasn’t been made public.