This three-bedroom bungalow in Newry was due to go to auction in London yesterday (Thursday) with a guide price of a paltry £15,000.
However, given the knock-down price in an area which saw one nearby property go for close to £200,000 recently, it was unsurprising to learn that this home was snapped up prior to its London auction.
The sale fee remains undisclosed but it is likely it went for a little more than its rock-bottom guide price.
The property is located on the south side of Chestnut Grove, a quiet part of Newry, close to the city centre.
It’s a house situated close to Newry High School, Sacred Heart Grammar School, St Ronan’s Primary School and Abbey Christian Brothers Grammar School.
The guide price was low given the fact the gated property had suffered from fire damaged and viewings were not possible given the state of the interior.
However, with three bedrooms, a reception room, kitchen/diner, bathroom and utility room, it offers great potential to the right buyer.
At the beginning of the month a house in Lurgan went on the market for a mere £15,000 – less than a brand new Vauxhall Astra.
The house on Victoria Street, Lurgan is also in need of some TLC – maybe a lot, but the potential to earn a quick buck makes this property an interesting proposition for any willing developer.
The advertisement comes less than a month after it was reported that average house prices in Armagh and Craigavon have dropped by almost £7,000 in the space of three months.