Initial reports suggested people were inside the single-storey home.
Firefighters quickly searched the property but were thwarted when the roof fell in.
The Fire Service has now posted on Facebook that no one was found inside.
Fire Service northern shift manager Scott Osmond said the home was engulfed by fire when crews arrived.
Video sent by a Herald reader showed thick black smoke billowing from the home.
Dozens of residents gathered to watch the blaze.
Neighbour Jerry Curach said he heard a number of explosions coming from the burning property.
"There were flames leaping out.
"There was real black smoke with a lot of banging.
"I was at the other end of the house and thought someone was doing carpentry work and then I looked out to see smoke and flames pouring out."
He said the fire now appeared under control, but the home looked "well and truly destroyed".
Curach said the garage of the damaged property was used as a tattoo parlour.