London property prices breaking new ground
In September 2012’s edition of the Receivership Update, Walker Morris’s article ‘London calling…’ discussed the rising disparity in property prices between the north and the south and, indeed, between London boroughs themselves.
This division appears to breaking new ground, with news in April that the most expensive house ever sold in the UK achieved a £250m price tag in the same week that the cheapest house ever sold (aside from the rare occasion when estates have been given to developers for free by local councils) was released for the grand old price of £1.
The differences between the two properties are undoubtedly numerous (the latter property for instance is in a state of dilapidation requiring major renovation) but given that one property is in central London and another in Stoke-on-Trent, the juxtaposition in values provides a useful indicator of one of the key factors behind the current housing crisis and should make interesting reading for receivers looking to realise property assets up and down the country…
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