1. ITV Report

Is this Britain's cheapest house? £7,000 home 'needs some work' but could be sold in weeks

The £7,000 home in Gainsborough, Lincolnshire. Photo: SWNS/Rightmove

Estate agents are known for their ability to accentuate the positives in almost all circumstances, but even they might struggle to put a sunny spin on one new home on the market.

A property in Gainsborough, Lincolnshire may now lay claim to the cheapest on the open market, after it was put up for sale at an asking price of £7,000.

The property has been badly fire damaged, as this photo of a bedroom shows. Credit: SWNS/Rightmove

The two-bedroom home, which can be seen here on, is badly fire damaged and has been poorly maintained, but is thought to have access to mains gas, water and electricity.

The home is in need of "complete refurbishment", according to the advert. Credit: SWNS/Rightmove

It will be offered at auction for a 10% deposit and agents expect the completion process to take around eight weeks - although it's likely to take some time longer to restore.

The kitchen, covered in waste. Credit: SWNS/Rightmove

And while the home does need "complete refurbishment" it does at least come with a rear yard and double glazed windows, as well a train station less than a mile away.

The home comes with a yard. Credit: SWNS/Rightmove

The valuation comes at around 4% of the average England and Wales house price of £170,000.

However, while it may be the cheapest home on the open market, the property is still valued well above those going for just £1 through a housing scheme in Stoke.

One of the two bedrooms. Credit: SWNS/Rightmove

The auction for the Gainsborough property will take place on 13 May, so any interested parties have just over a month to snap it up if interested.