A two-bedroom flat has gone on the market for just £5,000 - less than the price of a used family car. The first floor property is part of a three-storey block of apartments.
The home is advertised by Taylor James Auction s on Rightmove, where it is described as requiring “some updating throughout”. However a video walk-through of the flat does not appear to show any obvious major structural issues.
The virtual tour of the property at Thorgam Court on Harrison Street, Grimsby shows the hallway, bathroom and a living room which leads into a small kitchen. There are also two bedrooms, Grimsby Live reports.
According to the property information on Rightmove, at £5,000 and with a deposit of £500, monthly repayments on a mortgage for this property in Grimsby at 2.8 per cent annual interest would work out at just £21 over 25 years.
The property is being sold via auction - so it may well go for much more than the listed £5,000 guide price. The auction will take place online on April 13 via the company's website and anyone wishing to bid must pre-register no later than 8am of that day.
According to the recent Halifax House Price Index report the average house price has continued to increase. The Office for National Statistics also reported that the average cost of renting in the United Kingdom increased by 2% in 2021, the biggest yearly increase since 2017.
