A terraced house in Newcastle's West End has hit the market with a guide price of just £1, marketed by estate agents as a project property with 'excellent potential'. The listing, complete with seven interior photographs showing a property requiring substantial refurbishment, is almost certainly heading to auction — a format where nominal guide prices are used deliberately to generate maximum bidding interest rather than reflecting the price the vendor actually expects to achieve. Properties listed this way typically sell for anywhere between £15,000 and £45,000 once competitive bidding kicks in, particularly in areas where investor demand for renovation stock remains robust.