Knock Knock News: Royal manors, 3000 new homes built on prison land, £150k basements.

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A fifth of adults live with their parents until they’re 26

Reports shows that a fifth of adults are living with their families until they’re at least 26 and 20% of them aren’t contributing financially to their parents' homes. 21% of Londoners over 18 are living with their parents because of rising rent prices, the difficulty in buying their own properties and low wages.

Source: The Guardian

1.5 million homes shift from owner occupied to privately rented

In the last 10 years, over 1.5million homes have gone from being owner occupied to privately rented, and 550,000 have changed from being rented to being privately owned. On top of this, 700,000 homes that have been built since 2005 are privately rented.

Source: Property Industry Eye

3000 new homes could be built on the sites of old prisons

With nine new prisons opening in London and Wales, replacing Victorian prisons, the sites of the old prisons are planned to be sold for housing, providing over 3000 new homes. The first to be sold will be HMP Reading, which was built in 1844 and closed down in 2013. There are speculations that Pentonville and Brixton prisons may be two of the sites to be sold off, bringing about potential new land for central London property.

Unexcavated basement space sold in Bloomsbury for £150k

An unexcavated basement underneath a mansion block in Bloomsbury has been sold for £150,000. The 2000 square foot basement has no planning permission, but with the average property price in Bloomsbury at £768,669 after a 15.8% rise in the last year, the basement development could be a big money earner for its new owner.

Source: Daily Mail

9th Century manor house for sale

An 8 bedroom, 9th century manor house on the Isle of Wight dating back to 872AD that was owned by King Alfred the Great, Edward the Confessor, William the Conqueror, Henry VIII, Mary I, Elizabeth I, James I and Charles I is up for sale. It was rebuilt substantially at the end of the 16th Century. With seven reception rooms and four acres of land, the period property is on for sale at £2.1million.

Source: The Telegraph

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