Housing bubble: Would you pay over £1m for this semi-detached house in Tooting?
As prices rocket across London the signs of the housing bubble are no more evident than in this semi-detached Tooting house on the market for over £1m.
The cost of buying a property is rising at its fastest rate for nearly seven years and the surge is considered the biggest property bubble in history.
An advert, featured on the Prime Location website, values the five-bedroom house in Broadwater Road as £1,095,000.
It is advertised as having two receptions, a kitchen, two bathrooms, a garage, garden and ‘plenty of potential’ with opportunity for development.
The advert says: “A superb five bedroom house offering smart and exceptionally spacious accommodation benefiting from two generous reception rooms, private 42ft garden and off-street parking.
“Broadwater Road is situated by Fishponds Playing Fields and close to a great range of shops, bars and restaurants in Tooting and Earlsfield.
“It would be ideal for a family looking to create their own mark or for a developer to convert or expand subject to planning permission. Excellent location. No chain or freehold. An opportunity not to be missed.”
Foxtons estate agents value the average property in Tooting at £612, 767 with the average flat being £424,748 and the average house valued at £875,993.
The average London home has increased in value by more than £50,000 a year and experts find it difficult to predict when the bubble will pop.
Would you pay over £1m for a semi-detached house in Tooting? Leave a comment below or email email@example.com
A reception room
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