House for sale: Asking price $1

The Tweed Street house on sale for $1.

Watch and weep would-be Auckland house buyers.

A large home is being sold in Invercargill with an asking price of just $1.

The only catch is that anyone who wants to spend their spare change has to move it from the site themselves.

That could cost anywhere up to $50,000, a relocation expert told APNZ today.

But the spacious three-bedroom home, with a classic rimu interior, will be a bargain for someone, said local real estate agent Daryl Spence.

"For $1, someone will want it," he said.

"A dairy farmer or someone could want it on their farm to put their workers in."

The house, on its site, would go for around $130,000 in its current state of disrepair, Mr Spence reckoned.

It has a government valuation (gv) of $144,000.

Relocatable houses are especially popular in post-earthquake Canterbury, where housing resources are stretched and rent and property prices are soaring.

Richard Hutchinson of the Relocatable House Co said the property could be shifted around the South Island easily.

There would be some challenges given it's built from brick, with a stucco exterior and tile roof.

The interior of the $1 Tweed Street property.

But an expert team could move it to a new base within 100km in a few days for $40,000-$50,000, Mr Hutchinson estimated.

Once on its new site, it would have to be re-insulated and given a new cladding.

"It looks like a nice, solid big house. Moving it wouldn't be a problem," he said.

The Tweed Street property is owned by The Greenvale Group Limited, which operates the neighbouring Rose Lodge Rest Home and Retirement Village.

Manager Janine Lovett was unavailable for comment on the $1 sale today.