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 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 £50,000
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 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 motorway
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 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 rear
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 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 bathroom
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 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
The entrance door to the property leads straight into the well presented kitchen
The neutrally decorated bedrooms include double glazed windows and central heating