'Britain's cheapest house' shocks at auction

Cheapest house goes at auction

It was expected to take the title of Britain's cheapest house. The terrace in a former mining town in the Welsh Valleys went under the hammer with a guide price of just £8,000 yesterday. For your money you'd be getting a one-up-one-down cottage, with an outside toilet - which required complete renovation.

However, in a frenzy of bidding, the house lost the title. So what did it fetch?%VIRTUAL-SkimlinksPromo%
The Daily Mail reported that the property was bought for £15,000 by a couple from Stratford-Upon-Avon, who have renovated bargain properties before. They told the newspaper that they would spend another £20,000 doing it up and bringing the toilet indoors. They added that they'd have a nice little property for less than the price of a car.

Auction frenzy

Perhaps we shouldn't be so shocked that the price increased so much at auction. In 2011 it was a similar story for another house in the Valleys, priced at £7,000 and dubbed Britain's cheapest home. In that case it went for three times the estimate - to a property developer who said he could do it up cheaply and just hang onto it until he was in profit.

In 2012 we saw a run-down house in Tonypandy given the same title after going up for auction with a guide price of £4,000. In the end it sold for £16,500 - in just 45 seconds.

In October last year we reported on the three-bedroom house in Stockton-on-Tees near Middlesborough which was expected to become the cheapest in the country after being listed at auction for £750. In the end it sold for £14,000 - which meant it missed out on the title too.

The cheapest

It seems that one of the strongest contenders for the cheapest home in the country remains the two-bedroom terrace by the railway in Ferryhill Station, County Durham. It had been empty for a decade, and had no internal ceilings or kitchen, and sold for £8,250 in March 2012.

There are other properties, sold off by local authorities for as little as £1, in regeneration schemes. One of the most high-profile is in Liverpool's Kensington area, where the properties were sold at the knock down price on the condition that the new residents agreed to improve them and invest in the area.

However, in an open auction, it seems as if £8,250 is the rock bottom price of recent years, and with the housing market taking off again, this could be the lowest we see things go for a while.

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Inside 'Britain's cheapest house'
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'Britain's cheapest house' shocks at auction

The tiny terraced house in a former mining town in the Welsh Valleys sold for £15,500 in an auction.

The property, which requires complete renovation, was expected to sell for £8,000.

The one bedroom house in Brynmawr, Blaenau Gwent, South Wales, features an outhouse toilet. 

A couple from Stratford-Upon-Avon bought the house and intend to spend a further £20,000 renovating the property.

The property is one of the cheapest houses on the UK market,


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