News that a dilapidated, barely habitable house in the Australian town of Aberdare has attracted a queue of bidders at auction might seem like a curious footnote from the other side of the world, but it is a vivid illustration of a trend now firmly entrenched in the UK property market: the scramble for distressed, renovation-ready stock. With the property reportedly drawing far more interest than its condition would suggest justified, the story underscores a global reality that UK investors know only too well — in a market starved of affordable stock, even the most unpromising renovator can spark a bidding war.