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I have a friend who’s parents bought him a run-down Victorian house off Clapton roundabout for peanuts, back when it was ‘murder mile’, with shootings/stabbings outside Chimes nightclub almost every weekend. We used to come back to his after squat raves to find the road cordoned off regularly...
He slowly turned the basement into a flat, sold that for £600K, and the 3-storey house above is now worth £1mil.
ectoplasmosis-
exactly... my Uncle turned down a 3 bed in Barbican for 4.5K because it was just another council estate and they already lived in one.
I think my parents first house was 9K and I saw one on the same street recently for 650K.The price jump that generation have experienced is not far off a once only event IMO.
chrisbmx116
No one who works for their money.
Someone who either owns one or more successful companies or bought property when it was cheap, or a bit of both.
I know of people who bought similar places in Dalston when it was a real slum at 90k a pop, they are now worth about £1.5 mil each.