I don't normally bother with the economics stuff but could not resist posting this
http://www.rightmove.co.uk/property-for-sale/property-59527357.html?utm_content=v2-ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates1day&utm_term=buying&sc_id=4280938&onetime_FromEmail=true
for sale at 300k (it has been on and off for a while)
bought in 2007 for 450k