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Wed 12 Dec 2008The return of the £100,000 London home
LONDON BRIEFING:HOUSE PRICES in the UK capital have hit the front pages once again, with the London Evening Standardyesterday splashing on the "Return of the £100,000 home".
Thousands of homes, mostly repossessions, are being sold for knockdown prices as the financial crisis tightens its grip. The Standardcites one auction last week where 18 lots changed hands for £100,000 (€117,483) or less, prices not seen in the notoriously pricey London market for more than a decade. At another auction, eight out of 10 properties on the catalogue were repossessions.
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