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On the evening of Monday 1st April a live property auction sent the UK property news into overdrive after witnessing the cheapest quick house sale seen to date in the current housing market. The sale price of what is now dubbed as Britain’s cheapest house was sold for the staggeringly low price of £8250.

The house in question has been empty for ten years and is a two bedroom terrace property in County Durham (in a former mining village) near Ferryhill station and the live property auction was started at only £1 for the dilapidated building.

The building is described as a ‘shell’ with a considerable amount of renovating required; there is no kitchen, there are no ceilings. The house had been boarded up
following years of vandalism which has seen every window boarded up and sprayed with graffiti – this is also true of the interior of the building.

The busy nearby train station is less than 100 yards from the property and apart from the significant noise it also shakes the foundations of the building
causing vibrations throughout the property when trains are passing-by.

A young family is said to have purchased the property and property experts claim that once the building has been rennovated is capable of selling for over £30,000 in a normal market.

April 3, 2012 at 3:42 pm | Quick House Sale |
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