Is this the cheapest house in the south-east?

A detached home just a short walk from the Kent coast, costing only £20,000? There must be a catch - and there is.

This brick-built, one-bedroom bungalow in Warden Bay, near Sheerness, is classified as a holiday home, meaning it can only be lived in for ten months of the year.

For the right buyer, though, the place is a bargain, at a fraction of the price of most properties in the south-east. There's a lounge, a decent-sized bedroom with en-suite shower and a kitchen, all in reasonable condition... if a little dated.

There are external window blinds fitted and the front door has its own electric shutter - handy for those couple of months when the bungalow is not in use.

The kitchen appliances are included in the sale, and the agents say that other items of furniture may also be negotiated, if required.

The property is close to the beach, making it an ideal holiday retreat, and only an hour from London. There are buses to Sheerness town centre, supermarkets and the railway station eight miles away.

"Warden Bay is within walking distance to Leysdown on Sea where you can spend hours of fun on the 2p slot machines and eat a delicious fish and chip lunch," say estate agents Mann. "There are also bus routes to Sheerness town centre, the train station and supermarkets."

The bungalow will seem all the more appealing given the latest news on the London property market. Across the capital, according to Rightmove, the average asking price for a property is £630,974.

Across the country as a whole, average prices have risen by over £2,200 in the last month alone, and the typical starter home now has an asking price of £194,477 - out of the question for many first-time buyers.

With a 10% deposit, though, this house could be had for a mortgage repayment of under £100 a month - all you'll have to do is find somewhere else to go for two months of the year.