Property News · October 27, 2013

This street in east London tells a story of the great British divide: those who own property and those who don't


Six years ago we wrote about the impact of the housing boom on one street in Hackney, east London. Now, as prices soar, we return to see the effect on those who buy and those who can’tSix years ago, only a few months before Northern Rock collapsed and the world plunged into a financial storm from which it still has not properly recovered, I met Alex Rossiter, a 29-year-old freelance radio producer, in the basement kitchen of his parents’ house in Hackney, east London.His father, Alan, a community arts worker, told me how he had bought the house for £9,300 in 1977 and that now “it’s probably worth £500,000, if you can believe that”. Actually, I told him, it’s probably more like £800,000. At which point, he nearly fell off his chair. Continue reading…

Source : theguardian.com
Read more…This street in east London tells a story of the great British divide: those who own property and those who don’t

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