1.15 Million for ex-council flat!

It was due to obscene house prices why I moved from London, but this takes the biscuit.

http://www.mirror.co.uk/news/uk-news/tiny-two-bedroom-former-council-flat-5742914

To be fair 'only' a million quid in Kensington is actually pretty cheap.

Flats can be six times that amount :o:o:o:o:o

I agree with the OP tho, property in London is stupid.

It was due to obscene house prices why I moved London.

Well this what I call obscene.

http://www.mirror.co.uk/news/uk-news/ex-council-housing-racket-private-landlords-1745460

Well this what I call obscene.

 

http://www.mirror.co.uk/news/uk-news/ex-council-housing-racket-private-landlords-1745460

Yeah these housing racketeers are now so common place in London they've become the accepted norm.

A friend of mine pays £1000 pcm to a Tory cllr to live in a rabbit hutch on Du Cane Court in Wandsworth.

Yeah these housing racketeers are now so common place in London they've become the accepted norm.

 

A friend of mine pays £1000 pcm to a Tory cllr to live in a rabbit hutch on Du Cane Court in Wandsworth.

So what if he pays £1000 p/m to a "Tory Councillor". What's that got to do with anything.

Rent is dictated by the location and market rate. Wandsworth is a very popular area in Greater London. If your "friend" does not want to pay much they should move. They chose the property.

A quick search on just one property site shows 2500+ private rental properties under £1000 a month within 10 miles of Oxford Street. There are one bedroomed properties from 450 a month and bedsits for a little as 300 a month. Open up the travel distance a little further and there are even 2 bedroomed flat/houses falling into the <£1k bracket.

Expensive? yes. But so are all other Capital Cities if you choose to live close to the centre. £300? £450? Extortionate? NO.

Damn those pesky market forces eh.

Try googling apartment rentals or sales in any capital city and guess what? You got it! They are all expensive.

It's all about location for this flat, from the link:

The "exquisitely refurbished' £1.15m home is on the third floor of a block of flats above Stella McCartney's boutique in Fulham Road, close to the plush Michelin restaurant Bibendum.

It's marketed as being:

A highly sought-after location which hosts an array of local amenities as well as upmarket shops, bars and restaurants. Ideally located for Walton Street, Harrods, King’s Road and the tube station at South Kensington, Sloane Square or Knightsbridge.

It's all about location for this flat, from the link:

 

 

 

It's marketed as being:

Shhh... Don't be ruining this thread with facts.

Its cos of greedy tory landlords init. Why? cos the daily mirror says so.

free market forces will always dictate prices and good for that.

It was due to obscene house prices why I moved from London, but this takes the biscuit.

 

http://www.mirror.co.uk/news/uk-news/tiny-two-bedroom-former-council-flat-5742914

Supply and demand.

Demand is high in London ,so landlords can fill their boots . nowt wrong with that .

---------- Post added 24-05-2015 at 14:18 ----------

It's all about location for this flat, from the link:

 

 

 

It's marketed as being:

Id say for that area of London £1.15m is a bargain.

I feel really sorry for real Londoners! Their city has been taken over by lazy, greedy landlords and property developers. The dark side of capitalism has bent them over!!

---------- Post added 24-05-2015 at 14:21 ----------

Supply and demand.

 

Demand is high in London ,so landlords can fill their boots . nowt wrong with that .

 

---------- Post added 24-05-2015 at 14:18 ----------

 

 

Id say for that area of London £1.15m is a bargain.

It's not cheap. It's a total rip off and not worth even a quarter of that asking price. People are being taken for a very expensive ride in London and the rest of the tax payers are footing the rent bill. It's a prime example of how this government are only interested in lining the pockets of the wealthy.