Property in popular London suburb goes on sale for £120k

We have some exciting news for anyone who’s always dreamed of forking out their life savings to live in a shed round the back of Dalston.

Yes, Rightmove has listed a converted garage in Hackney for the measly price of £120,000.

Oh, sorry, did we say measly? We meant to say: “Good f***ing lord, £120,000? For a shed with a bed? God help us all.”

Situated not too far from Dalston high street, you might have an array of cool stuff to do on your doorstep, but that doesn’t take away from the fact you’re living in a former garage that’s being billed as a ‘single-storey studio’.

Rightmove

Nestled tightly between two other normal sized homes, the property is about to go up for auction if you did fancy having a cheeky bid.

There are only two photos listed of the property, making it difficult to gather much intel, but what is clear is that someone’s managed to stuff a kitchen into the shed - sorry, garage - sorry, single-storey studio, and there’s also a patch of astro turf disguised as a private garden.

There are also French windows and, according to the listing, a bathroom inside there somewhere, for anyone worried that the pictured plant pots were the bog.

Bids can be made on the home from 20 December and presumably understanding that not many people would be particularly stoked about living in a garage with French windows, the estate agents have pointed out that planning applications have been submitted to the London Borough of Hackney for the demolition of the property and erection of a new building.

That means that anyone interested in the spot could knock it down and start again, with Rightmove pointing out that the property could easily be converted into a two-storey home.

Rightmove

Earlier this year, a mind-boggling study was published that specified how much homes cost 50 years ago.

SunLife, which offers insurance to the over 50s, took a look back at the average house price over the decades.

At the start of the 70s, as the mortgage market flourished, the average house price at the start of the decade was just £4,057.

The UK House Price Index shows this jumped to £5,158 by 1972, which is still a stark contrast when compared with the figures we see today.

Let’s put this into further perspective by looking at the salaries then and now – in 1972, the average annual salary for men over 21 was £1,903, while women over 18 only earned £1,066 on average, according to Hansard.

This means a house cost 2.7 times the average yearly wage for British men and 4.8 times the average annual salary for women 50 years ago.