Inside the UK’s cheapest market town – where homes sell for just £15k

One of the homes listed for sale for just £15,000 in the old mining town of Ferryhill sits on a quiet red-brick street overlooking a green expanse. There are certainly no superficial reasons why this tidy road, sandwiched between two blocks of new-build properties, would have bargain basement prices.

But, according to consistent past research by Halifax Bank, the data is clear; Ferryhill in County Durham is consistently the UK’s “most affordable market town”.

A couple of doors down from a home the Express found listed for £15k online, neighbours Jane and Gavin Fraser have a theory on why prices are so low.

“Some of these places [inside] are really desolate,” explained Gavin. “Landlords buy them and don’t fix them up for years.

“There’s a place just round the corner which has just been bought and absolutely gutted because the previous tenant didn’t spend a penny and the landlord didn’t.

“So when you drive through and see a few really c****y places that’s what really brings down the area.”

His wife Jane, a Ferryhill native, claims that the quality of housing also impacts who settles in the town with landlords showing the same disregard for the tenants they select to live in their properties.

“They just have anybody to live there and it just brings the area down,” she added. “I can’t say it’s everybody, but a lot of people who’ve moved in are like that.”

On other streets in the town, similar claims are made; that it has become a “dumping ground” for residents few places would want to welcome.

Nevertheless, the low prices and rolling countryside is encouraging buyers from hundreds of miles away to Ferryhill.

The Frasers themselves relocated from Woodham in Surrey and are far from the most distant relocation.

“One of the neighbours moved up from Dorset,” Gavin

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