They are certainly cheap – but are they cheerful? The 20 lowest-priced homes in Britain have been revealed, with the most affordable costing just £4,000.
And the three properties with the lowest asking prices can all be found in the same area of Scotland’s Inverclyde, according to property website HouseSimple, who did their research on Zoopla.
They could all in theory be bought with finance costing less than £15 a month, although, in reality most lenders require a much higher minimum borrowing level of around £25,000.
Desirable? The cheapest property for sale is this one-bedroom flat in Port Glasglow, Scotland and has an asking price of £4,000
Perhaps unsurprisingly, none of the properties are in the southern half of England.
The cheapest property of all is a one-bedroom flat in Port Glasgow, Inverclyde (half an hour along the coast from Glasgow) and is on the market for £4,000. It is followed by two more properties in the same town, which have asking prices of £5,500 and £6,000 respectively.
In England, the lowest asking price is on a studio flat in Bradford, West Yorkshire, which is on the market at £13,000.
The cheapest house – as opposed to flat – on the market is a two-bed terrace in Bishop Auckland, County Durham, which has an asking price of £15,000.
This one-bedroom flat in Scotland’s Port Glasgow is currently for sale for £5,500
Buying agent Henry Pryor suggested why the properties were so cheap, saying: ‘Every week Phil and Kirstie remind us that when it comes to property it’s all about “Location, location, location”. These cheap properties aren’t mis-priced, they are mis-placed.
‘Suitable for someone on the run, perhaps these are homes that no-one wants to buy, some you would struggle to give away,’ he added.
‘At a time when we are begging the Government to build more homes you might think that every existing home was valuable, but these are the properties even estate agents would be embarrassed to try to sell.’
A common factor they all share is that they could theoretically be bought using a 10 per cent deposit of less than £2,000.
And in the case of the property with an asking price of £4,000, a 10 per cent deposit would equate to a mere £400. This would leave the remaining £3,600 that could be funded with a home loan, which would cost £15 a month.
The four-bedroom detached house in Herne Bay, Kent, is for sale for £304,000, the same price as the three cheapest properties for sale in Britain
This is based on a market-leading two-year fixed-rate mortgage for those with a 10 per cent deposit, which offers a rate of 1.96 per cent.
However, in reality, most lenders stipulating that the minimum amount they will lend is around £25,000, buyers may struggle to finance such a purchase.
Buying all of the cheapest 20 properties together would cost £303,900, the equivalent price of just one four -bedroom detached house in Kent.
And the cheapest three properties together would cost £15,500, according to estate agent Housesimple.com.
This is cheaper than the cost of a new car, with the cheapest Ford Focus costing £18,300.
This one-bedroom flat in Greenock, Scotland, has an asking price of £10,500
Sam Mitchell, chief executive of estate agents Housesimple.com, admitted: ‘These particular properties won’t appeal to the majority of buyers.’
But he said they could allow people to step onto the property ladder if you’re not afraid to purchase something that needs work.
He said: ‘Sellers in this market need to price sensibly – if you price it right, there’s a buyer out there.’
This one-bedroom property in Bradford, West Yorkshire, is on the market for £12,000