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Three-bedroom family home in County Durham goes up for auction for just £10,000

Three-bedroom family home in County Durham goes up for auction for just £10,000 2

Bargain hunters are in with a chance to buy a three-bedroom terraced home in County Durham for just £10,000 – less than the cost of a luxury second-hand Rolex watch.

The property in Stockton, County Durham is currently one of the least costly properties currently listed for sale – costing around 96 percent less than the average property price in the UK.  

Tithe Barn Road is a three-bedroom family home ‘in need of updating’ – but could fetch a profit if it was resold after a few improvements. 

For a buyer putting down a standard 10 percent deposit of just £1,000, monthly mortgage repayments would work out at just £62 over a 15-year period for the North East home. 

The house has garnered plenty of interest since the auctioneers listed the property and is nearly £1,000 cheaper than a 2020 edition second-hand Datejust Rolex watch – which retails on average for £10,995.

Bargain hunters can buy a three-bedroom terraced home (middle) in County Durham for just £10,000 - less than the cost of a luxury second-hand Rolex watch

Bargain hunters can buy a three-bedroom terraced home (middle) in County Durham for just £10,000 – less than the cost of a luxury second-hand Rolex watch

The property in Stockton, County Durham is currently one of the least costly properties listed for sale at the moment - costing around 96 percent less than the average property price in the UK. Pictured: The living room is wallpapered with a neutral feather print and a marble-style fireplace

The property in Stockton, County Durham is currently one of the least costly properties listed for sale at the moment – costing around 96 percent less than the average property price in the UK. Pictured: The living room is wallpapered with a neutral feather print and a marble-style fireplace

The house has garnered a lot of interest since the auctioneers listed the property on their website and is nearly £1,000 cheaper than a 2020 edition second-hand Datejust Rolex watch (pictured) - which retails for £10,995 on average

The house has garnered a lot of interest since the auctioneers listed the property on their website and is nearly £1,000 cheaper than a 2020 edition second-hand Datejust Rolex watch (pictured) – which retails for £10,995 on average

Images of the property show it is in need of renovation as the kitchen is shown with missing cupboard doors and scratched tiles

Images of the property show it is in need of renovation as the kitchen is shown with missing cupboard doors and scratched tiles

The garden includes a brick outhouse building - however the red door appears to have been left on the patio

The garden includes a brick outhouse building – however the red door appears to have been left on the patio 

A spokesperson for Taylor James Auctions, said: 'I think it could be suited to either. It's also not in bad condition either and there's not too work to be done.' Pictured: The property bathroom

A spokesperson for Taylor James Auctions, said: ‘I think it could be suited to either. It’s also not in bad condition either and there’s not too work to be done.’ Pictured: The property bathroom 

Britons looking to bag themselves a bargain will pay £266,755 less than the average British house price – currently standing at £276,755, according to the latest figures from the Land Registry. 

A spokesperson for Taylor James Auctions, said: ‘This a great opportunity for the right buyer given its guide price. It could be an idea for a family but the property could also appeal to someone who wants to do it up to see if they can get more money from it.

‘I think it could be suited to either. It’s also not in bad condition either and there’s not too work to be done.

‘Sometimes we can’t have viewings on auction properties because they need a lot of work done and aren’t safe but we already have viewings booked for this one.’ 

Images of the property show it is in need of renovation as the kitchen is shown with missing cupboard doors and scratched tiles.

Britons looking to bag themselves a bargain will cost £266,755 less than the average British house price - currently standing at £276,755, according to the latest figures from the Land Registry. Pictured: The view from one of the three upstairs bedrooms

Britons looking to bag themselves a bargain will cost £266,755 less than the average British house price – currently standing at £276,755, according to the latest figures from the Land Registry. Pictured: The view from one of the three upstairs bedrooms

Despite the low guide price, the property is expected to gain plenty of interest for those who want to resell. Pictured: The front of the house

Despite the low guide price, the property is expected to gain plenty of interest for those who want to resell. Pictured: The front of the house

The property is in relatively good condition and offers a front lawn, a rear yard, a spacious living room, a family bathroom and a kitchen-diner

The property is in relatively good condition and offers a front lawn, a rear yard, a spacious living room, a family bathroom and a kitchen-diner

The auctioneers haven't given a guide price for the property - but said the low guide price is to interest more bidders

The auctioneers haven’t given a guide price for the property – but said the low guide price is to interest more bidders

However, the property is in relatively good condition and offers a front lawn, a rear yard, a spacious living room, a family bathroom and a kitchen-diner.

Two of the bedrooms are also of good size whilst the third would be more suited towards a single bed.

Despite the low guide price, the property is expected to gain plenty of interest for those who want to resell.

They added: ‘Really the guide price is just what the bidding will start at, it will hopefully get more people interested.

‘Some people will be interested in doing it up and sometimes people call their local estate agents but it just depends.

‘We can never really guess how much it will go for.’

The average price for a terraced house in Stockton was £106,000 over the past year.

The house is being auctioned for £10,000 by Taylor James Auctions and is set to take place on May 18 at 8am.  

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