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The places where you can still buy a UK home for under £50k

You may be under the impression that it’s impossible to buy a property for £50,000 given the average British house price is four times that amount.

But they do exist. And our search on leading property websites revealed some examples.

We’ve found five two or three-bedroom houses that cost less than £50,000 – all are terrace properties.

We found five houses with an asking price of less than £50,000 - all were terrace propertiesWe found five houses with an asking price of less than £50,000 - all were terrace properties

We found five houses with an asking price of less than £50,000 – all were terrace properties

None of the properties are in the south of England. They are all in the north of the country or in Wales – and some of the properties need quite a bit of updating.

But the one common factor they all share is that they could be bought with a of as little as £2,500, if someone took out a 95 per cent mortgage.

This is in sharp contrast to Halifax figures published earlier this year, which suggested that the average deposit paid by a British buyer is £33,000.

The average house price in Britain is more than £205,000, according to the latest data from Nationwide.

With one of our £50,000 terrace houses costing significantly less, a buyer with a £2,500 deposit would need an annual salary of £10,500, based on borrowings of 4.5 times earnings.

        This terrace house in Bishop Auckland, County Durham, is on the market for £49,950 via estate agents JW Wood.

        It boasts gas central heating, double-glazed windows and three bedrooms (one of which is accessed through the second bedroom and so could be used as a nursery or study).

        You can buy this three bedroom terrace house in Bishop Auckland for less than £50,000You can buy this three bedroom terrace house in Bishop Auckland for less than £50,000

        You can buy this three bedroom terrace house in Bishop Auckland for less than £50,000

        The kitchen has a built in stainless steel oven and enough room to include a dining table The kitchen has a built in stainless steel oven and enough room to include a dining table

        The kitchen has a built in stainless steel oven and enough room to include a dining table

        The lawned area has been fenced to make sure that it is a safe area for children and petsThe lawned area has been fenced to make sure that it is a safe area for children and pets

        The lawned area has been fenced to make sure that it is a safe area for children and pets

        This two bedroom house in Brierfield, Lancashire, has an asking price of £45,000. The sale is being handled by estate agents Falcon and Foxglove.

        There is a spacious living room with wooden beams and exposed stone walls.

        A commuter's dream? The house is only a few minutes drive from the M65 motorwayA commuter's dream? The house is only a few minutes drive from the M65 motorway

        A commuter’s dream? The house is only a few minutes drive from the M65 motorway

        The bright and colourful living room has wooden beams and exposed stone wallsThe bright and colourful living room has wooden beams and exposed stone walls

        The bright and colourful living room has wooden beams and exposed stone walls

        Your first renovation project? Some updating is required in parts of the terrace houseYour first renovation project? Some updating is required in parts of the terrace house

        Your first renovation project? Some updating is required in parts of the terrace house

        A two bedroom house in Accrington, Lancashire, is being sold via Sharp estate agents for £45,000.

        The agent describes it as ‘an ideal investment property’, which is ‘not to be missed’.

        The terrace property has a walled front garden and an enclosed yard at the rearThe terrace property has a walled front garden and an enclosed yard at the rear

        The terrace property has a walled front garden and an enclosed yard at the rear

        There is gas central heating and double glazed windows throughout the Accrington homeThere is gas central heating and double glazed windows throughout the Accrington home

        There is gas central heating and double glazed windows throughout the Accrington home

        The estate agent has described the property as an 'ideal investment' property. It needs workThe estate agent has described the property as an 'ideal investment' property. It needs work

        The estate agent has described the property as an ‘ideal investment’ property. It needs work

        If you’re looking for a home costing less than £50,000, which has three bedrooms, then this house in the North Lanarkshire may fit the bill.

        But it needs some updating and so you’ll need some extra cash in the budget.

        It is on the market for offers over £45,000 via estate agents Slater Hogg & Howison.

        The terrace property includes three bedrooms, a kitchen, lounge and bathroomThe terrace property includes three bedrooms, a kitchen, lounge and bathroom

        The terrace property includes three bedrooms, a kitchen, lounge and bathroom

        You'll need some extra cash to spend on updating the property throughout You'll need some extra cash to spend on updating the property throughout

        You’ll need some extra cash to spend on updating the property throughout

        Bags of potential! There is also a spacious garden that needs some tidying up and attentionBags of potential! There is also a spacious garden that needs some tidying up and attention

        Bags of potential! There is also a spacious garden that needs some tidying up and attention

        This two bedroom house in South Yorkshire is on the market for £49,950 via estate agents Merryweathers.

        It is well presented throughout and ready to move into. There is an enclosed garden at the rear and parking on the street in the front.

        Parking is available on the street outside of the pretty terrace property Parking is available on the street outside of the pretty terrace property

        Parking is available on the street outside of the pretty terrace property

        The entrance door to the property leads straight into the well presented kitchenThe entrance door to the property leads straight into the well presented kitchen

        The entrance door to the property leads straight into the well presented kitchen

        The neutrally decorated bedrooms include double glazed windows and central heatingThe neutrally decorated bedrooms include double glazed windows and central heating

        The neutrally decorated bedrooms include double glazed windows and central heating

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