• It was hailed as the possible real estate bargain of the century, thanks to a no-reserve auction. And it probably was.

The properties, estimated to be three-quarters of the entire town of Yelarbon in Queensland, fetched AU$156,000 ($164,000) in total at the weekend auction.

Domain reports residents of the sleepy town (population 450) woke up on Saturday to an influx of around 200 people eager to catch a slice of the action.

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Three-quarters of the tiny town of Yelarbon in Queensland has sold under the hammer at a no-reserve auction by True Country Realty.