Quantcast
Menu

Editor's Pick

Are these the UK’s cheapest homes?

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
24/01/2019

A one-bed flat in Inverclyde, Scotland, is currently on the market for just £4k

It’s possible to find properties on the market today for less than £20,000, or the price of an average family car, according to research by Housesimple.com.

In fact, the online estate agent worked out that if you bought the 20 cheapest properties for sale in the UK today you’d pay a total of £303,900 for the lot. That’s a little over £15,000 a property.

The three cheapest properties, which are all in the same area of Inverclyde, in Scotland, can be picked up for less than the price of a new Ford Focus.

How low do prices go?

The cheapest property, a one-bed flat in Port Glasgow, is on the market at £4,000. Two other properties for sale, also in Port Glasgow, are on at £5,500 and £6,000.

Purchasing all three of them would set you back £16,000. To put that into context, the average UK house price, according to the Land Registry, currently stands at £230,630. These properties can be bought for one-fourteenth of, or £214,630 less than the price of the average UK house.

The cheapest property for sale currently in England is a studio flat in Bradford, West Yorkshire, on the market at £13,000.

If it’s a house you’re after, not a flat, you’ll have to fork out a little more. The cheapest on the market is a two-bed terraced home in Bishop Auckland, County Durham, listed at £15,000.

Sam Mitchell, CEO at Housesimple.com, said: “With the average UK house price over £200,000, it’s hard to believe you can still buy a house for pre-1980 prices. These particular properties won’t appeal to the majority of buyers, but if you’re not afraid to purchase something that needs work, there are some genuine bargains out there waiting to be snapped up.

“Sellers in this market need to price sensibly – if you price it right, there’s a buyer out there. Pent-up buyer demand has been building since early December. Low interest rates and competitive mortgage deals make it a very attractive market, but low stock levels in many areas have left buyers with limited choice. Those sellers who market in January will have their pick of the buyers.”