'Cheapest' house in UK sells for four times its value

A house said to be the cheapest in the UK has sold at auction for just over four times its estimated worth.

The terraced house in Tonypandy, Rhondda Cynon Taff, had a guide price of £4,000 but it was bought for £16,500.

One local estate agent estimated the buyers would need to spend around £20,000 to bring it up to date.

The house, which is unmortgageable, could eventually be worth between £55,000 and £75,000.

The traditional "two-up, two-down" property has two reception rooms, a kitchen, two bedrooms upstairs, a forecourt and an enclosed rear garden.

Auctioneer Paul Fosh said it was the cheapest house he had sold for many years but thought it could be a shrewd investment.

"The property, dubbed the cheapest house in the UK, created a huge amount of interest throughout the country," he said.

"Many thousands of pounds will need to be invested in the renovation of the property but the new owner could still stand to make a profit if he subsequently decides to sell having bought at such a keen price."

Tonypandy estate agent Phillips Homes said the house could be resold for between £55,000 and £75,000 after it is refurbished.

The house was bought by an anonymous person from London. The previous owner lives in Barry.