Page last updated at 15:50 GMT, Tuesday, 3 February 2009

Roofless house sells for 9,000

House on Lime Trees
The house will cost about 27,000 to renovate

A roofless terraced property on Teesside has sold for 9,000.

The property in Lime Tree Close, a cul-de-sac in Stockton, Teesside, was sold by auction, with a starting price of 5,000.

A private investor in Lancashire bought the rundown end-terrace through estate agents, Pattinson.

Michael Baines, manager of the Stockton branch, said that it was the cheapest house he had seen in his career and it was "snapped up in just two weeks".

He said: "The value of the property was definitely the selling point here, they should be able to renovate the house for just 27,000.

"Most of the houses in this area are sold for around 45,000 so this was a bargain."

Mr Baines added: "I don't think it is the effect of the credit crunch, house prices do not seem to have fallen that dramatically in the North East.

"It is probably due to the state of the property and being able to renovate it cheaply."

The property was sold by a private investor based in Newcastle at the auctions held at Newcastle Falcons Rugby Stadium.

The average cost of a house in the UK now stands at 180,000, which is 25% less than the same time last year.

Print Sponsor

Pair victim of 'cheap houses'
23 Jun 08 |  England

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific