Sheffield named one of UK's top 'fixer-upper' cities - with more than 120 homes ripe for modernisation
Despite growing interest in home renovation, the number of properties being bought, refurbished and sold on for a profit has halved over the past decade.
Sheffield has been named one of the UK's top cities for fixer-upper properties, with more than 120 homes listed as needing modernisation.
The city ranked sixth in a study by mortgage experts Mortgage Lane, which found 123 properties in Sheffield advertised as needing modernisation.
Houses in Sheffield have an average asking price of £223,593, while the cheapest property was listed at £25,000, according to the research.
At the other end of the market, the most expensive fixer-upper was priced at £1m.
The figures come as searches for “how to find fixer-upper houses” and “should I buy a fixer-upper” have soared by 5,000 per cent across the UK over the past month, according to the study.
Despite growing interest in home renovation, the number of properties being bought, refurbished and sold on for a profit has halved over the past decade.
Birmingham topped the list, with 285 properties needing modernisation, followed by Brighton and Hove with 193 and Bristol with 176.
Leeds came fourth with 144 listings, while Leicester ranked fifth with 132.
Sheffield's average fixer-upper asking price was lower than those recorded in Leeds (£272,121), Leicester (£256,453) and Bristol (£385,155).
Liverpool had the cheapest property across the top 10 cities, with one home listed for just £8,000.
Joseph Lane, of Mortgage Lane, said: “Despite a slow property flipping market in the UK at the moment, we’re seeing a massive surge in DIY and renovation culture.
“There is clearly major consumer interest in giving existing properties a new lease of life, particularly through smaller, more affordable projects that can be completed in a weekend rather than requiring six months to two years of major building work. ”