Investigation into London's property market reveals there are only 17 properties for sale that cost less than £280,000 (and the majority are house boats). It is unwelcome news for the capital's first-time buyers and families hunting for a larger home.
EXCLUSIVE: YouTube star couple Jim Chapman and Tanya Burr splashed out £2 million on swish London home that almost 7 million followers get to peek inside
They've struck gold on advertising linked to their internet channels and now high-profile YouTubers are buying multi-million properties to match their enviable lifestyles. Jim Chapman and his wife Tanya Burr are the latest to have bought a luxury home - with a private garden for their beloved dog Martha.
Would you pay £150k for some mud and rocks underneath a mansion block in an exclusive London street? One 'unexcavated basement' buyer did...
The extraordinary offer of a solid, 'unexcavated basement space' came up at auction with the freeholder's consent to develop - but no planning permission yet granted. While paying hundreds of thousands of pounds for a piece of land in Britain is nothing out of ordinary, this is believed to be the first time that such a deal has been struck where the developer must work around - or rather below - existing homes to construct the new property.
Mortgage prisoners: Homeowners can't afford to move even if they want to as lending restrictions 'strangle' property hopes
Even the most creditworthy borrowers face harsher mortgage restrictions as new rules filter into the housing market, and it has resulted in numbers planning to buy a home within the next year falling to their lowest level on record. Mortgage brokers have blamed a crippling combination of strict affordability rules - which can see childcare costs count against parents' ability to get a mortgage - and income multiple restrictions.
Rental madness: Cost of this 'cosy' studio in the heart of London is £1,000 a month (and the bathroom is shared)
Having everything close at hand takes on a new meaning at this studio flat in London. The property in Earl's Court (inset) is close to museums, the theatre and walks in the park but it is being advertised for rent at £910 a month. Bills are included but the flat does not include its own bathroom. The exact dimensions of the property have not been disclosed, but photographs show it is compact (main). So much so, that there is barely enough room to walk from the entrance at one end to the window at the other. It is the latest in a run of properties in London that are asking almost four figures for a single room to rent.
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DON'T MISS: PROPERTY
- Sir Michael Caine's 1960s London home is on the market for £5m The luxury home was The Italian Job actor's address in the 1960s
- Homebuyers offered £240k interest-free loan under London Help to Buy scheme Buyers will still need 5% deposit, but will only need to apply for a mortgage covering the remaining 55%.
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- It's Madness! Iconic terrace home featured in Our House pop video sells for more than £500K (Suggs not included)
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- Sold for £150k! The mud and rocks underneath a London mansion block that went under the hammer as an 'unexcavated basement'
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- House prices will grow by up to £70,000 in the next five years So long as interest rates don't rise too steeply, say estate agents
- Britain's most popular houses revealed. A £190k five-bed home in Manchester has the most online views, followed by one the same size in London for £5MILLION
- Fancy a castle for just £300,000? Ruin for sale - but you'll need up to £2million for a Grand Designs style fix up.
- Location of the X Factor house 2015 revealed The luxury property is in North London
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- Would you 'downsize' to a luxury £200,000 park home to boost your pension pot?
- Cost of this 'cosy' studio in the heart of London is £1,000 a month (and the bathroom is shared) Rental madness
- How to get your property offer accepted: 'Woo the seller' with these six tips and you'll soon be discussing moving in dates...
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PROPERTY: DON'T MISS
- Could this spell the death of mortgage ageism? Building societies set to relax age caps on home loans
- Best big UK city to live in? It's Edinburgh again - thanks to high wages, affordable rents and low crime levels
- Get ready for right to rent Landlords could be fined £3k for failing to check tenants' immigration status from February
- Why cheap mortgage rates aren't always best Deals with smaller fees, freebies and cashback could save you more than £1.5k
- Sold for £150k! Mud and rocks underneath London mansion block that went under the hammer as an 'unexcavated basement'
- Britain's property market isn't in a bubble, academics claim But London is on the cusp of one... and it could blow up in 2017
- The world's luxury home hotspots revealed Wealthy buyers flock to Vancouver and Sydney but London, New York and Paris hit the buffers
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- House price growth in UK's 20 major cities 'may have peaked' But Cambridge property soars 12% in a year
- House price growth in UK's 20 major cities 'may have peaked' But Cambridge property soars 12% in a year
- First-time buyers urged to win 'hearts and minds of sellers' Lack of homes for sale sends prices up £16k in a year
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