Friday 20 October 2017

This Irish bungalow could be yours for £15k when it goes to auction this week

54 Chestnut Grove in Newry is to be sold at auction (Property News)
54 Chestnut Grove in Newry is to be sold at auction (Property News)
Independent.ie Newsdesk

Independent.ie Newsdesk

A three-bedroom bungalow will be auctioned off this week for a meagre £15,000 (€16,650) in London, becoming the latest to join a growing list of rock bottom priced properties in Northern Ireland.

Nestled in a quiet cul-de-sac in Newry, the unexpected bargain property, set amid a generous garden, is to go under the hammer at an auction this Thursday at the Cumberland Hotel in London.

Chestnut Grove is known as a quiet area not far from the city centre and other properties on the street have recently gone on the market for almost £200,000 (€222,000).

But if it sells for the guide price, it could be secured with a 10pc deposit of £1,500 (€1,665) with typical mortgage repayments of just £53 (€70)per month over 30 years.

The Belfast Telegraph contacted Allsop asking who the seller of the bungalow is but the company said that it never reveals details of the vendor of any dwelling.

Last week, the latest figures from Ulster University's Quarterly House Price Index revealed the average house price in Northern Ireland currently stands at approximately £148,000 (€164,309).

A report, published earlier today by the Central Statistics Office (CSO), showed house prices were up 12.3pc in the last year south of the border.

Belfast Telegraph

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