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@hippy
I wouldn't bother about looking for cheap bikes in London.. the only cheap ones are stolen. You're far better off up in the countryside somewhere at a garage sale, bike swap meet, tip, second-hand dealer, private sale (check cycling magazines - Cyclign Weekly has ads in back), check local papers that have free classifieds (these will list bikes for sale as well as garage sales in your area).
Having said all that.. why the fsck am I even looking at ebay?! I need to 'go bush' and hit up some ye olde town garage sales!