Can you buy a home for the price of a hatchback?

Can you buy a home for the price of a hatchback?

With affordability continuing to be a problem for first-time buyers as the average UK property price hits £220,000, the latest research from may come as a relief.

The online estate agent has revealed that many properties on the market around the country for the price of a basic three-door hatchback.

HouseSimple has found the ten cheapest properties for sale in the UK right now, that you can purchase for less than £15,000, the price of a new Ford Fiesta. There’s just a one catch; you’ll have to bid at auction to secure one of them.

Take the one bed flat up for sale on Brown Street, in Newmilns, East Ayrshire. It has a guide price of £10,000 at auction, and the agent describes it as ‘attractively priced for a quick sale’. It needs a full refurbishment, as do most of these properties. But when you’re spending less than you would on a wedding, it’s likely the property will need a little work.

Alex Gosling, CEO, online estate agents, comments: “Despite property prices being unaffordable in many areas of the UK, it’s still possible to find good value out there if you spend a little time doing your research. It’s also a matter of managing expectations and being realistic about what you can afford.

The examples we found during our research are probably only going to appeal to a very small group of people, because of the amount of work needed to bring them up to scratch. But it does show that even with a modest budget, there are properties out there which are well below the UK average price.

Also, with the current property market very much in the buyer’s favour, this is a good time to step onto the property ladder. Sellers are far more willing to negotiate right now, especially if you have your finances in place and are willing to move quickly.”

Join our mailing list:

Leave a comment

Latest Comments

Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

view article
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

view article
Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

view article
maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

view article
maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

view article
zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

view article
Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

view article
Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

view article
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

view article
sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

view article
Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

view article
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

view article

Related stories

More articles from Auctions