£5k flat for sale

It would appear it is still possible to bag yourself a property for under £100k - that is if you don't mind living in a not-so-desirable area of Glasgow and in a building with structural problems.

Yet househunters are scrambling to get their hands on Scotland's cheapest home. The flat in Port Glasgow, Inverclyde, has gone on the market for just £5000. It is even cheaper than a garage in Giffnock, Renfrewshire, which is on the market at offers over £5900.

The top floor flat is set in a red sandstone tenement and boasts a hall, lounge, kitchen, bedroom and bathroom. Competition for the Bruce Street property has been fierce, with the sale going to a closing date tomorrow. Property experts warn the apartment would need some work to bring it up to scratch, but said it will prove to be a sound investment.

Property prices across Scotland have soared, with the average house north of the border now costing £126,639. A spokeswoman for Allen and Harris estate agents in Bridge of Weir, said: "I have never heard of a property as cheap as this. "There are a lot of structural problems and it is in a bad area. It might attract a developer or landlord, but not a first-time buyer."