It had to happen sooner than later, but as space in the capital becomes ever-more at a premium, the pricing floor looks to have reached a new level.
London has long been at the more pricey end of the UK property market, but now the cheapest home currently listed for sale in the capital is this one-bed in Hornchurch.
Coming in at £100,000 it is on with Bairstow Eves and measures just 15ft by 16ft. It has been reduced by £30,000 since first being listed in September 2017, and was last sold in 2016 for £94,000.
Online estate agent HouseSimple crunched the data and found just four similar properties for sale for under £125,000. Houseboats and shared ownership properties were discounted in the analysis.
Despite house prices in the capital cooling in recent months, Sam Mitchell of HouseSimple, said: “The death of the £100,000 property in London was inevitable."
As you can see from the floorplan, below, the property has one bedroom, one reception room/kitchen, a lobby and a bathroom.
Running costs, as estimated by Zoopla's running costs tool, should be: energy (£51/month), water (£28/month) and council tax (£106/month).
But the home in Hornchurch is not your only option. if you are looking for moor for your money, how about this houseboat for sale in London for £43,000?
Life on the water comes with a 42ft cruiser narrow boat with a fitted galley, solid fuel burning stove, shower room and residential mooring. On the market now through agents Quilliam.
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