With an average price of £180,000 for a house in England and Wales, and with the number of people on council housing lists growing each day, home ownership seems a distant dream for millions of Brits.

However, an estate agency in northeast England may have the right place for those looking for affordable accommodation.

Robinsons Estates has put a house in Sacriston, Durham up for auction, with a starting price of just £1, according to the UK's Daily Mail.The house has two bedrooms, a living room, a kitchen-dining room, a basement and even a rear porch, offering spacious rooms. It also in close distance to many schools and is not that far from the city center and is situated in one of the more popular areas in Durham.

To many, the offer seems too good to be true, and it is because here's the catch:

As the property has been uninhabited for about 10 years it is quite run-down; with boarded-up windows, dated furniture and peeling wallpaper, the terraced house definitely needs a makeover before anyone would even think of living in it.

So to say, the property is in desperate need of refurbishment — 30,000 pounds worth of refurbishment to be exact.

And with houses costing about £70,000 to £100,000 in the nearby area, it might just be the perfect offer for some.

For those who are interested, the auction is set for April 4.