Dozens of cheap properties in Wales sell for as little as $10,000

Dozens of cheap have beeen snapped up for as little as $10,000.

But course there is a caveat.

An auction house in Wales had a busy end to the year sending 39 garages under the hammer, along with bargain-basement houses.

Paul Fosh Auctions secured £5,000 ($AU10,000) for the most affordable of the garages – a brick build, in Newport in the county of Gwent.

Garages are considered a worthwhile investment by purchasers who have vintage cars or extra households items, the auction house said. The cost of the garage can be off-set by leasing it out, according to the senior valuer Sean Roper.

He told MSN there was rarely an auction day that did not include at least one garage, but “this time we’ve outdone ourselves”, with almost 40 on offer.

“Garages or just a single garage, are ever popular and much sought after and, depending on a range of matters including condition and location, can achieve very satisfactory prices at auction,” Roper told MSN.

“Garages can be a good investment as people these days have so much ‘stuff’ and seldom have enough storage space.

“They are willing to pay rent for the privilege of having more room to store things, such as maybe a classic car or excess furniture or things that ‘might come in handy one day’, by renting space on a short or long term basis.”

However, not all sold, across two days of auctions.

But of the biggest sums splashed was £121,000 ($AU243,000) for a cluster of 19 garages, all tenanted.

Seven bidders threw their hands in the air for the chance to be the landlord of the instant property portfolio, also in Newport, which have an annual income of £6,948 (about $AU13,970).

In Australia, high real estate demand in a high-end suburb can be as simple as a bitumen slab with white painted lines.

Car parks in postcodes including Bondi Beach are desired by property hunters – and there need not be a home attached.

Ric Serrao, an agent who specialises in real estate in Double Bay and surrounds, told Nine’s property team in September that he had three car park listings coming to market.

Two are garages and one is a parking space, in Bondi Beach and North Bondi.

One is a garage, in Warners Avenue, which will have a price guide of about $300,000. Another is a car space, in Curlewis Street, expected to fetch in the realm of $150,000. And the third is a Ben Buckler-located garage, which the owner is looking to rent out through Serrao for $1000 a week.