Buy a house at auction for the price of a Ford Fiesta

11 August 2017
Image

Bid at auction and you can buy a property for the price of a three-door hatchback, according to new research by HouseSimple.com.

The online estate agent looked at properties listed at auctions around the UK and found homes at bargain prices, with the 10 cheapest properties offered for less than £15,000 – the price of a new Ford Fiesta.

With seven of the 10 properties located in Scotland, the cheapest property is in the Scottish village of Tarbrax in West Calder – with a guide price of just £9,000. The two/three-bedroom cottage requires “extensive renovation” and the wall dividing two bedrooms had to be removed because of “rotten joists”, but it’s just 20 minutes’ drive from the town of Livingston – an easy commute from Edinburgh or Glasgow.

See the table below for all 10 UK properties marketed at auction for less than £15,000.

 10 UK properties being marketed for less than the price of a Ford Fiesta

Address/town/city

Property description

Guide price (£)

Viewfield Road, West Calder, West Lothian

Two-bed cottage

£9,000

Sunbridge Road, Bradford, Yorkshire

One-bed flat

£10,000

Anlaby Road, Hull, Yorkshire

One-bed flat

£10,000

Brown Street, Newmilns, East Ayrshire

One-bed flat

£10,000

Montague Street, Rothesay, Isle of Bute

One-bed flat

£10,000

Glasgow Road, Glasgow

One-bed flat

£11,000

Sixth Street, Horden, Peterlee, Co Durham

Two-bed flat

£12,000

Loudoun Road, Newmilns, East Ayrshire

One-bed flat

£12,500

Kirkosward Road, Maybole, South Ayrshire

One-bed flat

£14,000

Milton Road, Kilbirnie, North Ayrshire

One-bed flat

£14,000


Alex Gosling, House Simple’s chief executive, says: “Despite property prices being unaffordable in many areas of the UK, it’s still possible to find good value out there if you spend a little time doing your research. It’s also a matter of managing expectations and being realistic about what you can afford.

“The examples we found during our research are probably only going to appeal to a very small group of people, because of the amount of work needed to bring them up to scratch. But it does show that even with a modest budget, there are properties out there which are well below the UK average price,” he adds.

Comments

In reply to by anonymous_stub (not verified)

As those are only guide prices I think the article would be more accurate if the list contained the actual prices realised - and I'd guess quite a few would be above the £15,000 Ford Fiesta price quoted.I also doubt very much that the photo accompanying this article shows any of the actual properties in the list.

In reply to by anonymous_stub (not verified)

and these are located at what auctions

In reply to by anonymous_stub (not verified)

It's not the amount of work needed that will put people off buying those examples of 'bargain' properties - it's the location!

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