Do you think this house is worth £1m?

[Lolaandbehold]

I know a house is worth what someone is willing to pay but here is one ex local authority house that has just come on the market in an area I am familiar with. 2 bedrooms, 900 square feet of actual living space, (although they're trying to flog it as 1100 or even 1400) which is on a par with the price of LA mansions (in terms of price per square foot) and not hugely far off New York real estate. Seems bonkers. And it hasn't even been renovated!

Admittedly it is a very nice road in a fashionable part of London and the road also has some lovely Victorian double fronted properties which can sell at over £3m. But I doubt any council tenant would be able to buy that house now.

https://www.rightmove.co.uk/properties/151326137#/?channel=RESBUY

No. Needs loads doing to it.

What. The. Actual. Fuck.

😳 No.

Hell no!!!

that would be priced at about £150,000 where I live ( at most)

No, but I’ll bet there are people daft enough to pay that much.

Wtf?! Is that a posh area or something? 😂

The house is rubbish and it needs a full refurb. Non existent garden too. They're having a laugh unless the area is top notch or something.

I paid £135,000 for a new three bedroom semi with garage and front and back gardens in a decent area in the NE. If I had a million quid I wouldn't be spending it on that linked monstrosity, but I know prices are ridiculously high in the SE and London.

No! 😱 Wtf?! Is the price a mis-type?!

Of course it isn't - but the price reflects the location.

I wouldn’t pay £1mil for it personally!

But it is a very desirable area of Clapham on a very nice road. And yes someone will probably snap it up at that price, pay £200k on renovating it and then sell it on at a profit!

It must be a very sought-after location then. Is SW11 Battersea?

It's Battersea. Nuff said. People pay stupid prices to live in SW11!

It's a posh area in south west London easily accessible to central London.

You could make that really nice…. I wouldn’t not live in it ( if you can stand a double negative). I would need to see the other million pound houses in the area to see what it was in competition with.

Londoners would say anything to defend how ripped off they get (mainly from foreigner investors driving prices up), while the sensible rest of the county wouldn't pay more than £220k, maybe 250 at a push.

I presume the price is because they could knock it down and build something better?

That's a VERY nice area. The loft is not a legal room though so surprised the agents have included it in the square footage.
It doesn't look like ex council - it looks like an infill development from bomb damage.

It's probably the going rate for the location so maybe if I was looking for a house in that area

I don't think any property is worth that. But obviously understand the market. It seems mad.

I know right. I don't give a fuck what postcode it is. That house is not worth a million but guaranteed some idiot buys it purely to say ooh I live in SW11🙄🙄🙄

Is it priced similar to others in the area

This is crackers! However it's always about the house for me rather than the postcode. I am definitely the wrong target audience for this!

That would be under £200k where I live, in NE England costal suburbia

You’re paying for the location, land is expensive in London. It’s bonkers but that’s capitalism for you.

@Speccytwit

that's kind of the point ghough

lovation location location

it would be about £550,000 where I am, but that's not where it is 🤷🏻‍♀️

No.

Might go for £250000-300000 here in there north of England but even then it’s a bit much as it needs a load of work.