House prices have gone up for the tenth consecutive month, with the average house price in the UK now at £269,914 according to Nationwide. But whilst it is becoming more and more difficult to find a reasonably priced home, auctions are usually one of the best ways to get you in with chance of bagging a bargain property.
Used by some estate agents, auctions often allow buyers to bid for a property online. Homes that go under the hammer are usually listed for a much lower price than what they would go for if they were put on the market.
These properties often vary in both size and condition, but most of the time they are doer-upper homes that need a bit of work. Nevertheless, buying a house on the cheap can give first-time buyers a way onto the property ladder, or homeowners could see it as a great investment opportunity if they plan to buy, do up, and then sell or let out later down the line.
