Bag a bargain as homes go on sale from £50,000
- Credit: William H Brown
Renovation projects in Norfolk are flooding the auction market sparking a boom for the property sector.
And expert believe the housing market looks set to be the "busiest in 10 years".
Cheap homes needing DIY work combined with 95pc mortgages easing lending are "fuelling the fire in an already hot market".
Jamie Minors, who runs Minors & Brady estate agents, said: "This means more options, more choice and more purchasers being able to buy with just a 5pc deposit.
"In an already hot market this just adds further fuel to the fire across Norfolk and we are expecting one of the busiest summers in the last 10 years."
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Keith Hood, managing director of Warners Financial Services, in Wymondham, said: "First timer buyers are jumping on the opportunity to get on the housing ladder. From having a very sparse offering of a handful of mainly specialised 95pc products a week ago, we now have 11 additional lenders.
"We have been really busy with 95pc enquiries in the last week and the law of supply and demand can only mean that this will fuel house prices which are already strong following the stamp duty holiday."
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Here are three of the best bargain buys for sale with different local auction agents:
Harecroft Gardens, King's Lynn; for sale for £50,000-£60,000.
Inside it has a living room, dining area, kitchen, two bedrooms, a bathroom and outside, a garden.
The Close, Holt; for £80,000-£100,000.
Built using reinforced concrete columns with shiplap concrete panels, the property has been let for many years and is now sold vacant.
The agents point out it has 'suffered a degree of downward movement at the rear.' Outside there are front and rear gardens with a timber shed and off road parking to the side.
Cuckoo Road, Stow Bridge, near King's Lynn; for sale for £150,000. Offering three bedrooms, this detached house with field views in a quiet village has large gardens to the front and rear. Inside, there is a modern kitchen, three reception rooms and a bathroom.