A house bought for less than one dollar located in the former slum area in North Benwell, Newcaste, Tyne and Wear in England, has been sold for over $280,000.

Salik Uddin said his family took advantage of a housing project by the council of North Benwell and bought the house 1999 for less than a dollar.

Salik told The Sun newspaper that the council of North Benwell was then offering houses for only $0.96 because they were in a crime-plagued area.

But security had improved immensely since then and now the value of real estate had gone up as well.

Salik was quoted by the newspaper as saying, "Our house was worth nothing. I can't believe what it costs now."