Thursday, June 30, 2011

Britain’s cheapest house

For £10,000 you can buy a Ford Ka hatchback, a mid-range Rolex watch and, so it seems nowadays, a new house.

, 16:17, Wednesday 29 June 2011
A property in Burnley sold for £10,000 this week, surely making it one of the cheapest houses in Britain.
Estate agent John Dinsdale, who lined up the sale,  told Yahoo! Finance that the house, on Pritchard Street, was originally put on the market for £15,000 but had to be knocked down to just £10,000 before a buyer was found.
"It didn't fly out of the door, it took a bit of selling," he said.
The house, purchased by developer, has a living-room, kitchen, two upstairs bedrooms, a back yard and is only a few minutes' walk from Burnley Town centre.
However the buyer will have to deal with "structural movement" and will probably have to rebuild the front wall.
It's also been vandalised, with thieves stealing copper piping and, bizarrely, the flagstone floor.
"The buyer's going to spend quite a bit of money doing it up," said Dinsdale. "It's a sizeable project."
Many of the properties on street have similar structural problems and are boarded up with metal closures.
Dinsdale said that before the recession, the house would have sold for "£35,000, no problem", but admits that today's price tag could become the norm.
"We have another one in Burnley that's also under offer for £10,000. One was completed earlier this month that was only £13,500. We're getting one or two now at that sort of price level.
"It's not beyond the realms of possibility we could sell the odd house for under ten thousand in the future," he said.

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