Pictured above: The Dovecote at Leigh in Worcestershire

It's bargain time for first-time property buyers if they can secure the finance, according to Bigwood director Jonathan Hackett, head of the firm's residential agency business.

And, with savings rates so low, investment buyers are also moving back into the market chasing cheap deals.

A host of residential properties, from the unusual to the mundane, from the student pad to the family home, come under the hammer in the latest Bigwood auction taking place at the Holte Suite, Aston Villa, on Wednesday, May 26.

Mr Hackett said: "People are being very realistic and in some cases are desperate to sell. There really are some very cheap prices.

"It is a fantastic chance for first-time buyers so long as they can obtain the finance.

"As for investment buyers, given you are hardly getting anything by keeping your money in the building society, there are opportunities out there to gain a much better return."

Two tempting buys are 101 Dora Road, Small Heath, Birmingham, worth more than £200,000 in good condition at the height of the boom and now on the market at just £90,000, and a semi-detached at 110 Compton Road in sought-after Pedmore, Stourbridge, which requires refurbishment and is available at £150,000.

Also well worth a look is 35 Appian Close, Kings Heath, a £100,000 mid-terrace property put up by Bournville Village Trust.

In the same category is a leasehold first floor apartment in the leafy Warwickshire village of Tiddington. No.26 Avonhurst, Dark Lane, has a guide price of just £95,000 to £105,000. And three-bedroom semi-detached The Haven, Middletown Lane, in equally leafy Sambourne, near Studley in Warwickshire, is a snip at £195,000.

Some particularly unusual properties are also featured in the auction.

The Dovecote at Leigh in Worcestershire is an after-thought from a barn conversion and can be snapped up for £35,000.

The scheme is adjacent to Leigh Court Barn dating back to 1344, an example of English Medieval carpentry, and St. Edburga, a Norman church built by Benedictine monks in 1100.

Set in a conservation area it is thought planning permission could be obtained for residential use.

A mid terraced property at 78 Monk Road, Ward End, Birmingham, would need to be totally gutted - it comes complete with an old range cooker in the kitchen. The guide price is £75,000 to £80,000.

For investment buyers there are some "fantastic returns" available.

A leasehold two-bedroom apartment at 106 Wicket Tower, 2 Wyatt Close, off Pershore Road and close by Edgbaston cricket ground, is available at £50,000 to £55,000 with current gross income of £4,800 a year. Similarly, a substantial three-storey Victorian property split into flats at 20 Greenhill Road, Moseley, is available at £375,000 to £400,000. It has a current gross income of £32,832.

"That is a really good price," said Mr Hackett. "It is an excellent investment opportunity."

There is a good spread of properties suitable for student lets - 1114 and 1116 Pershore Road, Stirchley, each priced at £75,000; 124 Hubert Road, Selly Oak, £90,000 to £100,000; and 87 Milner Road, also Selly Oak, £70,000 to £75,000.

For developers, the cleared former Woodnorton Hall site at Alcester Road

Moseley, is up with a guide price of £280,000 and, subject to planning permission, believed suitable for housing.

The latter is being auctioned on behalf of Birmingham City Council which has a dozen or so properties in the sale. There are also a few former NHS lots.

The sale begins at 11am.