New survey crowns £15k Preston one-bed flat the cheapest home in the UK

Rothwell Lodge Grange Avenue, Ribbleton
Rothwell Lodge Grange Avenue, Ribbleton
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The cheapest property in the UK is thought to be a one bed flat in Preston, a new survey has found.

The second-floor flat in Ribbleton has a price tag of just £15,000 - and it even comes with a parking space - putting it in the running for the title of the cheapest home in Britain.

Affordable home: �15,000 could get you the cheapest property in the UK

Affordable home: �15,000 could get you the cheapest property in the UK

At £5,000 less than the price of an average wedding or £2,000 less than the cost of a brand-new Mini, the value of the home is half that of the average deposit in the UK, which now stands at more than £31,000. Online estate agents HouseSimple.com say the flat in Grange Avenue flat boasts a three-piece bathroom as well as a bedroom, lounge, kitchen and access to a communal garden.

The average UK house price is now just under £300,000 but the flat is one of 24 properties in the country available for £20,000 or less, according to the agents.

Alex Gosling, from HouseSimple.com, said: “They may not be much to look at, and they may need a little TLC, but it does seem crazy in this day and age, when the average UK house price is so high, that you can still buy a property for a tenth of that price.”

£15k to £3m: Harsh reality of the Lancashire property gulf - Read more about the property gulf in Lancashire here

Grange Avenue, Ribbleton,

Grange Avenue, Ribbleton,