Property prices in the rest of Britain are still booming – but in Liverpool, you can pick up a four-bedroom house for less than the price of a can of Red Bull.
Taxi driver Jayalal Madde was one of the first in the queue when houses were offered for £1 – and snapped up a house with four bedrooms, three living rooms, a cellar and two bathrooms.
The double-fronted terrace is just 10 minutes away from posh shops such as Harvey Nichols in central Liverpool.
The incredible deal did come with a catch though – the houses in Toxteth were offered to buyers who were prepared to renovate derelict properties, and guarantee they would live in them for five years.
Jayalal, 49, has spent £30,000 renovating the home in Cairns Street and hopes to move in by Christmas.
He told the Liverpool Echo, ‘ love the house because it’s a big, double-fronted terrace. I’m trying to move in before Christmas.
‘There’s work still to do but I hope it won’t take long. This whole area is being done up and when it’s finished this will be a brand-new, regenerated community.’
