New build three bed property for sale for just £48,750 – but is there a catch?

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New build three bed property for sale for just £48,750 - but is there a catch? 1

A three bed property for sale in Newark has been listed for a shockingly low price. The home on Hounsfield Way, Sutton-On-Trent, costs £48,750.

According to Zoopla, the average cost of a house in Sutton-on-Trent stood at £278,649 in November 2019.

So, why is this home, listed by NCHA Sales, so cheap in comparison?

The listing reveals the kitchen has an integrated oven and hob, an extractor hood and vinyl flooring.

Upstairs is a bathroom with a white bath suit and a shower.

READ MORE: Have you overpaid Stamp Duty Land Tax?

These properties are being sold on a 125 year shared ownership lease.

However, there are special qualifiers buyers need to meet to be eligible to own the property.

The listing states: “Who Qualifies? Anyone who does not currently own or part own a property and has a household income of less than £80,000 per year can apply.

“Priority will be given to applicants who meet the local connection criteria.”

Another cheap property for sale has been listed for just £36,250. 

Sellers add the home is “ideal for someone looking for a semi-rural location”.

Many will be shocked that the village home in North East Lincolnshire is listed for just £36,250.

The listing, by TwoCan Estate agents, reads: “This new development is situated in the popular village of New Waltham, directly between Humberston and Waltham.”


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