You've heard the stories of those US ghost-towns, hardest hit by the sub-prime crisis. But what about London? Welcome to Hill House, Thamesmead, a riverside new-build apartment block where all but two of its 84 flats have been repossessed, and where - according to reports - the crackheads and vandals are moving in. Just two years ago, these were sell-out prospects. Now, they're bargain bucket. Take Flat 54. According to Land Registry data, it achieved £274,995. Now, it's about to be picked up for £88,000.

Technorati Tags: London, property, real estate

Fun, here, as the Telegraph's Ginetta Verdrickas visits an arresting Victorian water tower in Plumstead, converted into a highly original eight-storey, four-bedroom home (with lift). Inside, it's all Lutron and Starck, but makes sensible use of original features and - via its top-floor observatory - incredible views across London. It's with John Payne, listed at £1.395m. Particulars (a PDF download) here

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Technorati Tags: architecture, design, London, property, real estate

The Rat and Mouse continues to enjoy the BBC series The Tower - which, as far as we're concerned - is a very moving and sympathetic view of the life on the Pepys Estate, and an effective indictment of the insanity of the London housing market... the very insanity the Rat and Mouse is here to document. Apparently, though, not everyone's delighted with the series:

What's been going on in this programme is not really good enough. They have turned some of these drug addicts into film stars but they should have been looking at the pensioners round here instead. We're not the best in the world around here but we're not as bad as all that.

... the words of the leader of the local pensioners' group. He's retired, himself. Apparently he used to be a gangster. But he wasn't a drug addict.

[via This Is Local London]

Meet you new landlord, excuse the drooling and the nappies [July 17, 2007]

Technorati Tags: London, property, property TV, real estate