This Houghton cottage is being auctioned starting at just £1

A Houghton home is up for auction with the starting bid being just £1.

The one-bedroom cottage, in South View Terrace, Houghton is in poor condition and needs investment.

However, property auctioneers Pattinson Auction insist the cottage has great potential.

The property consists of an entrance porch, lounge, kitchen, bedroom and bathroom.

While externally there is a garden to the front and a yard to the rear.

However, although these kind of auctions can start low, they can still finish as high as £100,000

The auction house, Pattinson told the media regarding a recent “£1” bid in Newcastle: “We had a lot of interest in the sale to the point we ended up bringing the auction to a close sooner than originally planned. The property sold for £100,000 exactly with 98 bids.”