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Three homes under £30,000 in Wolverhampton to get you on the property ladder

Mortgages might be down to an all-time low, but for many people, getting on the property ladder is still a challenge.

According to figures released by Atom Bank, the average buyer needs to save more than eight times their annual salary to purchase a home.

It’s why an auction property could be a good way to ease you way into the property market.

Read more:How to buy a bargain property at auction – all the tips and tricks you must know

We’ve found three houses in Wolverhampton that are going to auction and have guide prices under £30,000.

They are being sold via online auction and the auctioneers, Royal Estates, say each property is subject to a reserve price, which is within 10 per cent above or below the starting price. Of course, as these are guide prices, most properties go for significantly more, but it can still be a good buy – particularly if you have the building skills needed to completely refurbish the properties.

It is important to note that successful bidders must exchange contracts immediately after the auction and a 10 per cent deposit is taken. Completion has to be within 28 days.

Anyone interested in the properties should head to underthehammer.com for more details.

For the latest on Wolverhampton, read our Black Country newsletter.

Old Fallings Crescent

This three-bedroom semi-detached property has a guide price of just £19,000. Located about one and half miles from Molineux Stadium – and under two miles from Wolverhampton city centre, this house needs complete refurbishment.

Old Fallings Crescent, Wolverhampton, which has a guide price of £19,000

It has a hallway, one reception room, kitchen, downstairs WC, three bedrooms and a family bathroom.

The front garden has a lawn and a paved driveway, while the rear garden is a good size but needs completely clearing.

Find out more details here.

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Hall Park Street, Bilston

This mid-terrace period property in Bilston has a guide price of £19,000.

Hall Park Street, Bilston, which needs completely refurbishing
Hall Park Street, Bilston, which needs completely refurbishing

It needs a complete renovation, but Royal Estates says it would make an excellent investment for a landlord or property entrepreneur or be a great home for an owner-occupier.

Set back from the road behind a small wall, the house has a hallway, two reception rooms and a kitchen that leads to rear storage rooms. Upstairs you’ll find three bedrooms and a family bathroom.

There is a good-sized rear garden with greenhouse and storage shed.

Find out more here.

Duffield Close, Pendeford

With a guide price of £29,000, this three-bedroom terraced house is in the popular residential area of Pendeford less than 10 minutes from junction 2 of the M54 and the I54 business park.

Duffield Close, Wolverhampton, just 10 minutes from the M54
Duffield Close, Wolverhampton, just 10 minutes from the M54

It needs to be improved, but the agents, Royal Estates, say there is scope for a driveway and rear extension, subject to planning consents being given.

The house has a hallway with storage cupboard, downstairs WC, through lounge, and kitchen that leads onto the rear garden. Upstairs there are three bedrooms and the family bathroom.

The rear garden is currently paved.

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