Halesowen house worth £315,000 being raffled for £1

This house in the Black Country which is valued at more than £300,000 is being raffled off – for just a quid.

Property developer Shabbir Ahmed has said he does not want the hassle of using an estate agent, so chose to raffle the detached bungalow off instead.

Mr Ahmed is selling the recently refurbished home, in Fallowfields Road, by flogging tickets for just £1 online.

The raffle opened to entries on November 1 and the winner of the house, valued at £315,000, will be announced on February 8.

Mr Ahmed, 39, said: "I thought it was time for a change and I wanted to sell the house.

"I came across this concept and thought it was a bit different and very interesting.

"I like how it was a bit different compared to the usual way of going through an estate agent. It's less hassle.

"I also think it's good to help people who can't afford to buy a house and it helps get somebody on the property ladder."

Mr Ahmed is selling the house through RaffleMyHouse, a unique new company which has been specifically set up to raffle off homes.

It was set-up by business partners and property developers Kevin Clark, Ricky Jhuti and Raj Roma.

Company director Mr Roma said: "We thought we saw a gap in the market.

"A few people have raffled houses in the UK but we're the first company set-up specifically to do it.

"We just want to help people get onto the property ladder in the current climate.

"We probably won't be making masses of money but it's really important to us.

"We've worked very closely with our legal team and the Gambling Commission to make sure everything is above board, as the legality of the platform was the biggest concern when speaking to people."

According to the firm, thousands of people have already signed up to try and win the house in the nine days since the competition started.

Managing director Ricky Jhuti added: "We are very excited for the launch of our first competition and the interest already has been phenomenal.

"This was an idea born out of our knowledge of the UK property market combined with our ambition to do our bit to improve the UK housing problem.

"It is with this ambition that we are offering this life changing opportunity for someone to win a brand new home for just £1."

On the company's website the property is described as a 'beautiful, refurbished, extended three bedroom, detached, bungalow in a fantastic position.'

The statement says: "This fantastic property is situated on a popular road opposite a wonderful woodland copse, a sweeping driveway with parking for multiple vehicles, welcoming reception hall, kitchen, lounge, master bedroom, ensuite, two further bedrooms, family bathroom and a rear garden."