Cash-strapped house hunters searching for a new home for their family can bag a bargain ‘villa’ with one semi-detached property priced at just £40,000.
The house, believed to be among the cheapest of its type on property website Zoopla, boasts a garden and three bedrooms.
Advertised as a ‘generous villa’ the property is priced far below the average cost of housing for the UK, which the Office for National Statistics said jumped to a record high of £250,000 in November.
Incredibly, the total price of the home, which is in East Ayrshire, Scotland, is less than the average total deposit put down on houses last year.
Figures showed that in 2020 deposits averaged at £57,278, compared with £46,449 the year before, representing a 23 per cent increase.
In London, the typical new buyer deposit ballooned by £20,000 to more than £130,000, a property index by Halifax found.
But the house in Scotland may not suit all families, as the energy efficient rating is an ‘E’ with a potential for rising to a ‘C’.
The location, in New Cumnock, is also relatively remote with a population of just 2,884 residents.
The home does include a ‘generous lounge with fireplace’ as well as a fitted kitchen, family bathroom and three ‘spacious’ bedrooms with built in cupboards.
There are also front and rear gardens for the property, which are described as ‘extensive.’
Property advertisers said: “This attractively priced generous villa would potentially suit a range of prospective buyers from investors through to average sized families.”
The house is listed as “offers in the region of” which means the seller may accept a different price to the £40,000 which is listed, either more or less.
A temporary stamp duty holiday and pent-up demand after the market was put on hold in the early part of 2020 have fuelled demand recently, with rising prices making life harder for those trying to get on the property ladder.