Can you really buy a house in London for less than £300,000? We've reviewed the upcoming London property auction listings for properties available on the cheap...
According to Zoopla's market activity report (they call it the Zed-Index); the current average value for a London property is a staggering £656,323. And in the last 12 months prices have increased by an average of £17,762. The breakdown of average prices by property type is listed below:
- Flats: £535,780
- Terraced houses: £699,547
- Semi-detached: £717,805
- Detached: £1,196,317
But if you look carefully and with a bit of luck you can still pick up a freehold house for less than £300,000. They'll usually need a bit of TLC, but they do exist.
A note on guide prices: Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Stratford property selling at auction
Guided at just £265,000 this freehold, 2 bedroom, end of terrace property has a tenant in place paying £15,300 per year. Located approximately 8 miles from central London, with a commuting time on public transport of just 40 minutes, this London property represents very good value. The property is due to be auctioned on the 22nd of February with Andrews and Robertson property auctioneers.
South Norwood property selling at auction
Lot 2 of the 22nd of February Auction House London auction is guided at £300,000 plus. Located approximately 8 miles from London Bridge with a rail commute time of less than half an hour, this freehold, mid-terraced house is being sold by the executors.
Edmonton property selling at auction
If you're looking for a great value north London property then take a look at lot 39 of the next Savills auction. Located on Charlton Road, this un-modernised property is available with a guide price of £300,000. To find out more, or to arrange a viewing please contact Savills on 020 7824 9091.
Thamesmead property selling at auction
Located approximately 10 miles from Canary Wharf, the morning commute shouldn't take much more than half an hour door-to-door. This mid-terraced, freehold house is being sold on behalf of a Housing Association and is guided at £290,000 plus. If you're interested in bidding at their 16th of February auction, contact Allsop directly on 020 7494 3686.
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Next steps
Thinking of selling a property at auction? Any type of property can be sold at auction, whether in good or poor condition. Request a free pre-auction appraisal or call us on 0800 862 0206 - we'll be happy to help.
