Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Edinburgh Live
Edinburgh Live
National
Kris Gourlay

Cheapest flat in Edinburgh hits the market in popular area for just £30k

A one-bedroom flat has hit the market in Edinburgh for just £30,000 - making it the cheapest home currently on the market in the capital.

With the property market currently sky high with first time buyers struggling to get on the ladder, Edinburgh is up there with the most expensive cities in the UK to buy a home.

According to Rightmove, the average house price in the capital last year was just over £300,000, meaning this property on Balfour Street costs just ten per cent of the average Edinburgh home. Also by contrast, a single garage in Learmonth Terrace Lane is currently on the market for £70,000.

READ MORE: Locals hit out at new Edinburgh tram map with glaring typo - before it's unveiled

Situated in a desirable area near Leith Walk, the flat does have some drawbacks, however. As Rightmove suggests, the flat is in need of somewhat of a full makeover before it is in move-in condition.

They say: "Top floor one bedroom flat requiring full refurbishment offering an excellent opportunity to develop, located just off of Edinburgh’s Leith Walk, well located for amenities and access to Edinburgh city centre.

The property boasts an open-plan lounge and kitchen area. (Rightmove)

"The flat offers basic accommodation and will appeal to landlords/developers with a creative eye for improvement. A security controlled entrance hall leads to each of the flats in the block. A small entrance hall opens to a bedroom, and an open plan lounge/kitchen.

"The shower room/toilet is located outside the flat (see title deeds for full details), just a few steps across the communal hallway. The flat requires a full refurbishment and is priced competitively to sell."

The description also adds that the property is currently non-mortgageable so it would only suit a potential cash buyer.

The bedroom is surprisingly spacious. (Rightmove)

Despite the requirement for change within the property, it is situated on a quiet residential street near all of the city's best amenities. It also includes both a spacious open-plan living room and kitchen, as well as a double bedroom.

In terms of the price, there are currently several parking spaces within the capital's city centre on sale for tens of thousands of pounds more than the property, making it a potential snip for any experienced property guru.

For more information and to look at the property in full, you can do so here.

READ NEXT:

East Lothian dad sent naked photo of own daughter to undercover police officer

Midlothian mansion with incredible private gardens and tennis court hits the market

Edinburgh picture captures grim moment 80s hooligans battle it out on notorious bridge

American tourist in Edinburgh drinks Buckfast on breakfast hike after 'spotting locals'

Edinburgh prisoner killed his best friend on Princes Street during the Fringe

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.