The vacant property is located on the Isle of Wight
A house in the UK is up for sale with a guide price of £10 – but there is a major catch.
For most of us, it really is tough out there in the property market as the cost-of-living remains stupidly high and wages are obviously not increasing at the same rate.
From just last year, the average house price in the UK has gone up by 2.7 percent to a whopping £287,924, according to the latest figures from the UK House Price Index (HPI).
But even if we were in the 1950s – where the average house price was around £1,800 – a home for tenner would still be an absolutely ridiculous bargain.
This comes after a two-bedroom, one-bathroom, semi-detached house at the edge of a cliff went up for auction.
The vacant home near Leeson Road, Ventnor, on the Isle of Wight, is up for auction with a guide price of just £10.
However, the catch is that the property is next to an area which suffered a recent landslip after 16 hectares (40 acres) of land collapsed back in December.
Internal viewings are not available (Google Maps)
Residents from around 20 properties were initially forced to leave their homes, while some of them were unable to return.
The listing on Rightmove reads: “A vacant 2 bedroom semi-detached house for cash buyers only, requiring refurbishment.
“The property is adjacent an area of recent landslip, however, only minor structural damage is apparent to the building and site itself.
“It remains the intention of Island Roads and the Isle of Wight Council to re-open Leeson Road as soon as it safe to do so.
“Internal viewings will not be possible. The auctioneers have not inspected the property.”
It comes after a landslide back in December (Isle of Wight Council)
The auction details also note: “To be sold by online auction (unconditional) on Friday 27th September 2024 with a 6 WEEK COMPLETION, bidding will open at 10.00.”
According to the property sale history, the home was last sold for £60,000 back in 1999. Ah, the good ol’ days.
So, if the risk is something you’re willing to take on, at least you’ll be able to stream Netflix without a problem with a whopping 77mb download speed.
It’s also worth to note down the nearest station which is just two miles away, with the closest college being 1.3 miles away.
A primary school is also 1.7 miles from the property.
