Family homes under £50,000 are being offered in Birmingham, as an auction house gears up for its next sale.
Auctions are a popular way for a would-be home buyer or property investor to get their hands on a house or flat for well under the average asking price.
And with Rightmove announcing last month that the average house price in the West Midlands is £260,706 – up 6.9 per cent in 12 months – it’s little wonder that auctions often see competitive bidding for homes.
Bond Wolfe has 189 lots it is hoping to secure buyers for at its next sale on October 20 – and these three family houses in Birmingham could prove to be a great investment, whether for first-time buyers getting on the ladder or a landlord looking to increase their portfolio.
The houses all need to be refurbished, but with guide prices from £39,000, there should be enough in the kitty to create a comfortable home once the hard work has been done.
Among the lots is a three-bedroom, semi-detached house property at 45 Bendall Road in Kingstanding, which has a guide price of £39,000 – significantly lower than the average house value on the road, which is £135,720, according to Zoopla. It sits back from the road and has gas central heating and double glazing to most windows.
This three-bedroom, mid-terraced house at 142 Regent Road in Handsworth has a guide price of £49,000. It needs to be refurbished throughout and the auctioneers say it could be an ideal project for someone with DIY skills. The average house price in Regent Road is £149,560, making this mid-terrace a potentially good buy.
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If you are looking for somewhere to lay your hat in Shard End, this three-bedroom, mid-terraced house at 63 Turnley Road might catch your eye and has a guide price of £50,000.
It needs to be renovated, but it has front and rear gardens, gas central heating and double glazing to most windows. With Zoopla estimating that homes in the road have an average value of £153,545, this could be a good investment.
Gurpreet Bassi, chief executive of Bonde Wolfe, said: “At a time when property prices are rising, we always have many bidders who come to our auctions with a focus on finding a bargain.
“These three lots are great examples of some of the properties we have on offer that could make great family homes once they have a bit of loving care and attention invested in them.”
And proving it’s not just homes that need significant work that go to auction, this five-bedroom, detached house at 20 Brooklands Way in Marston Green, is one of the lots and has a guide price of £425,000 – £80,455 below the average house value in that road, according to Zoopla.
This modern house has a hall with guest cloakroom, two reception rooms, a dining kitchen, utility room and a second WC on the ground floor. Upstairs are the five bedrooms – two of which are en suite – and a family bathroom. It also comes with 2 integral garages and a burglar alarm.
The auction will start at 9am on Wednesday, October 20, and it will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.