London Housing Bubble Watch: $630/Month For A Bed "In" A Shared Kitchen!

You know it's a bubble when... A listing has appeared online advertising a single bed in a house in London where the mattress is located in the kitchen.

As The Telegraph reports,

"Please notice is not a room," the listing on SpareRoom read. "Is a single bed in shared kitchen,” continued landlord Joe.

 

 

For £400 ($630) a month "you can use your own entrance from the garden, if you wish," he continued.

 

The advert claims it is a five to 10 minute bus ride to the station. Although putting the approximate location into Google Maps, as reported by the Independent, also shows that it’s in fact a 27-minute walk away to the nearby overground.

 

SpareRoom’s “early bird” system means only those with a premium account can get in touch for the first seven days of the listing’s time on the site.

 

If it's not a hoax it exemplifies the rising rents in London with tenants unable to to buy a property and a lack of new stock to meet demand.

 

The advert has now been deleted by "landlord Joe" but was thought by Spareroom to be serious.

Matt Hutchinson, director of flat and house share site SpareRoom.co.uk, said:

This is another sign of how bad the housing crisis has become. This isn’t just one of the most bizarre ads we’ve seen, it’s also a huge invasion of privacy. No one should have to sleep in a kitchen, and no one should have to pass through a bedroom to get to a communal area. This ad has been removed.”

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Welcome to the new normal!

On the bright-side, it's great for breakfast in bed...