According to house price data, the days of making a 'quick buck' from property are over. But with some planning and elbow grease, there are still some great investments to be had.
1. One-bedroom cottage, Aberystwyth, Wales, auction guide price £75,000
Property description: A detached former chapel in a quiet rural location, built of solid stone walls, with a slate roof and exposed beam ceiling. The cottage is being sold by public auction on 7 December.
Why has it got potential? When this cottage was last on the market back in 2010, it sold for £125,000. It has plenty of charm and character to take advantage of, plus it’s within two miles of world-famous tourist attraction, Devil’s Bridge Falls.
2. One-bedroom flat, Edinburgh, for £155,000
Property description: Second floor flat with ‘authentic’ traditional features including stripped-back internal doors, ceiling cornicing and characterful deep-set sash-and-casement windows.
Why has it got potential? For a start, it’s in Edinburgh, which was recently named by Hometrack as the current fasting growing city in the UK for house prices. It's also in the desirable spot of Stockbridge, close to Edinburgh's Old Town and Royal Botanic Garden. According to the selling agent, it offers, "superb potential for improvement".
Available via Stuart and Stuart WS
3. Two-bedroom semi-detached house, Andover, Hampshire, for £199,950
Property description: This two-bedroom home (pictured above) comes with a rear garden and large driveway, leading to a detached garage.
Why has it got potential? You'll need a bit more than a lick of paint to transform this run-down property, which the selling agent itself describes as a ‘renovation project’. However, it's within walking distance of the centre of Andover, where you can pick up a direct train service to London’s Waterloo which takes just over an hour.
Available via Austin Hawk
4. Three-bedroom flat, James Brindley Basin, Manchester, for £230,000
Property description: Spacious open plan top-floor duplex with twin balconies and parking space, located on the banks of Manchester’s canals.
Why has it got potential? As an investment, this property could be a winner. It's in a 'tranquil spot' says the agent, yet still only a stone's throw from Manchester’s city centre and train station. And, while much of the major renovation has already been carried out, there's still potential for further improvement, such as in the bathroom.
Available via Reeds Rains
5. Three-bedroom semi-detached house, Millbrook, Cornwall, for £250,000
Property description: A period cottage (pictured above) with a large tiered garden and annexe, in the centre of the village of Millbrook.
Why has it got potential? This property is being marketed as an, ‘ideal investment opportunity’. It comes with planning permission to convert the annexe into a two-bedroom dwelling. It also has views over tidal Millbrook lake, popular with boating enthusiasts, and is close to the golden sands of Whitsand Bay. Nearby Cremyll runs a pedestrian ferry to Plymouth city centre.
Available via MPH Estate Agents
6. Four-bedroom detached house, Carterton, Oxfordshire, for £300,000
Property description: Sitting on a substantial plot, this home comes with driveway parking and two outbuildings in Carterton, a relatively new town in Oxfordshire.
Why has it got potential? Admittedly not for the faint-hearted, this property needs a serious amount of work. But, for those up to the challenge, a four-bedroom home in the Cotswolds at £300,000 is not to be sniffed at.
Available via Chancellors
7. Three-bedroom property, Long Crendon, Buckinghamshire, for £450,000
Property description: Blacksmiths is a semi-detached cottage with a converted attic, character features, garage and courtyard garden.
Why has it got potential? While this charming cottage needs a thorough revamp, it already has its attic converted into a large bedroom, saving the biggest of financial outlays. It's in the village of Long Crendon, two miles from the market town of Thame in Oxfordshire which runs direct trains into the capital.
Available via Reaston Brown
8. Four-bedroom terraced home, Fulham, London, for £1.25m
Property description: A four-bedroom Victorian terraced home, with two bathrooms and a garden, located in a quiet residential road.
Why has it got potential? While £1.25m might not strike you as a 'bargain', bear in mind this home, with its four bedrooms and two bathrooms arranged over three floors, is in Fulham, one of the most prestigious pockets of south-west London. Potential for profits lie in top-to-toe renovation, including a new kitchen.
Available via Chelsea Square
9. Four-bedroom terraced house, Islington, London, for £1.5m
Property description: Part stucco-fronted four-storey family house, with a balcony and roof terrace, in the heart of north London's Islington.
Why has it got potential? Although no major renovation work is required, this home is in need of some serious modernising. It’s in a posh part of the capital in close proximity to Angel Tube Station, Islington Green and Camden Passage.
Available via Ellis & Co