Am I just massively out of touch or is this over priced?!

[HouseOclock]

www.rightmove.co.uk/properties/127341239#/?channel=RES_BUY

This bungalow has just gone up on the market, lovely location BUT it's a prefab, around 50 years old and falling apart. The listing says renovations needed but the whole thing needs knocking down and rebuilding, the roof is bowing above the garage and all the walls shake as you walk around. The outside steps are coming away from the house etc.

Surely to get it all in decent order and nicely finished would easily reach up to a million alongside the sale price - it can't be worth that much in the end?! As I say, I am out of touch so will be interested to see what others think

Agree @icedancerlenny I'm Oxfordshire too. In my village similar dilapidated bungalow plots have gone for between 600-800.

A 2 bed end of terrace was on for 300k. Totally needed modernisation and no development potential really.

It’s a really good plot and it probably would not cost that much to update even with structural works

Lots of land. That's the key. Land in the UK is very scarce. The south is seeing an explosion of new builds in the last decade and all the good, arable land is disappearing. The land is getting more expensive because there isn't much of it left anymore. And I'll bet that property is a post-war build, lots of prefabs were built after the shelling, they were never meant to be permanent, and were meant to replace the seriously damaged housing stock fast, with the intent to rebuild properly later. But sometimes, later never comes.

This. The location is beautiful and it’s a big plot. It’s exactly what we’d love, shame it’s in the wrong place. Bungalows are so hard to find.