For sale: Another Belfast home goes on the market for £20,000
Another £20,000 house has appeared on the market in Belfast - but be prepared to spend if you want to live in it.
In a city where more properties are straying over the million pound mark, this west Belfast terrace with a guide price of what most have to stump up for a deposit is sparking huge interest according to the auctioneers, who believe it may be snapped up before making it under the hammer.
The property, situated on Gortfin Street just off the Falls Road, is a dilapidated end terrace in traditional Belfast red brick. It is boarded up, scrawled over with graffiti and in a generally poor state.
But the sales brochure states it is an "excellent investment opportunity".
Other houses on the street have recently sold for £70,000 and some demand a monthly rent of £500. The street is just a short walk from the Royal Victoria Hospital. The house is set to be auctioned by BRG Gibson at the Stormont Hotel on May 16. It is understood it is being sold by a receiver and that offers as high as £30,000 have already been made with a view to securing it before it reaches the auction.
The property comes just weeks after a house originally advertised for sale for just £20,000 in east Belfast attracted offers of three times that amount.
The end terrace property at Parkgate Avenue was in a similar state of disrepair, with windows bricked up.
A spokesman for Simon Brien Estate Agents said it sparked a buzz and following a number of bids has now agreed for sale at £58,000. It is understood that the new owner is experienced in terms of property renovation and already has ideas on how to transform the house.
Meanwhile, the next BRG Auction sale is also offering what is believed to be currently the cheapest property in Northern Ireland - a one bedroom flat in Fintona, Co Tyrone, with a guide price of just £9,000.