VIDEO: Cheapest home in Hartlepool?

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WHO would live in a home like this?

A flat believed to be the cheapest in Hartlepool is going under the hammer with a rock bottom starting price of £2,500.

Lawrie Stewart of Auction House Tees Valley inside 1A Derby Street, Hartlepool, on offer from �2,500.

Lawrie Stewart of Auction House Tees Valley inside 1A Derby Street, Hartlepool, on offer from �2,500.

The one-bedroom pad in Derby Street will be sold to the highest bidder at a public auction next week.

The auctioneers say it is the cheapest property they have ever seen in the town.

Despite its “distressed” state and being in definite need of work, the first floor flat has attracted widespread interest.

More than 1,200 potential buyers have viewed it on the internet and it is expected to sell for much more than its modest guide price.

At £2,5000, the flat is less than one 20th of a typical house in Hartlepool.

Lawrie Stewart, director of Auction House Tees Valley, who is handling the sale, showed the Mail around the flat.

He said: “This is the lowest I have seen in Hartlepool. I have seen prices start at around £1,000 in other parts of the North-East.

“It does need bringing up to a decent standard but it doesn’t take much to turn it around.

“Apart from its low starting price its selling points are that it is close to the town and all amenities.

“There is a main road round the corner and it is handy for buses and public transport.

“It will go for a lot more than the guide price. We have had over 1,200 hits on the website.

“A lot of people buy them unseen, they see it on the internet and bid by telephone.”

The flat in the Oxford Road area of town includes one bedroom, a living room, kitchen and bathroom, all of which need improvement.

Mr Stewart said investors will be the likely buyers who will redecorate the flat before renting it out.

The average price of a house in Hartlepool currently stands at £74,702.

That is significantly less than the average for England and Wales which is £162,080, according to the latest figures from the Land Registry.

A one-bedroom flat in the West London borough of Ealing ranges from £84,000 to £410,000.

The flat in Derby Street will be sold at auction next Wednesday.

Last year, a terraced house in Stoke, Staffs, was put up for sale for the nominal price of £1.

The buyer was to receive a £30,000 low interest loan to renovate it as part of a £3 million council scheme.