‘Cheapest house in Wales’ costs £180,000 less than the average in its area

The mid terrace cottage in Blaenau Gwent in Wales had a guide price of £32,000 and received 32 bids in two days

A one-bedroom terraced house has become the “cheapest house in Wales” after it sold at auction for £14,000 more than asking.

Located in Blaenau Gwent, the mid terrace cottage had a suggested asking price of £32,000 and received 32 bids over the course of two days. Reports from Wales Online.

The online sale was dominated by five bidders who saw the potential of the property despite requiring a significant amount of work.

As well as a single bedroom, it has a small interconnecting annex and the potential to become a well connected house, conveniently located for the A465 Heads of the Valley Road.

According to the Principality Building Society, it sold for a fraction of the average house price in Wales of £226,577 and much less than the average house price in Blaenau Gwent of £126,691.

Gemma Vaughan of Newport-based Paul Fosh Auctions, who managed the sale of the property, narrated Wales Online: “This lovely country style one bedroom property at 245 King Street, Brynmawr offers a lot of potential.

“The property is in need of complete renovation, but offers scope for expansion (subject to the appropriate building permit).

“It would be an ideal investment for those looking to renovate and resell, or even those looking to buy to rent.”

The house also has a living room, dining room, kitchen and shower room on the ground floor.

There is a fairly large rear garden as well as off-street parking.

Elsewhere at Paul Fosh Auctions, a former bakehouse in Maesteg, Bridgend has sold for £18,000.

The two-storey former bakehouse was contested by eight bidders and sold for £2,000 over the asking price.

The next online auction by Paul Fosh Auctions will start on Tuesday 17th May at 12pm and end on Thursday 19th May at 5pm.