Nick Millican has his say on London’s Tiny Homes
Nick Millican has his say on London’s Tiny Homes
The cost of living in the English capital has continued to rise, with some experts estimating a 25-percent jump in London’s rents over the next five years. A recent real estate listing in the Stratford region gave an insight into first-time homebuyers’ issues. London’s real estate sector is the domain of Real Estate Agency´s Nick Millican, who explained what the shipping container listing says about the London market.
Nick Millican was as shocked as most real estate experts at the listing in a London industrial yard close to many of East London’s main attractions. He praised the region the converted shipping container is listed in as filled with many of London’s top attractions. The container stands 40 feet long and eight feet wide, with the London Stadium and Abba Arena located a stone’s throw from the listing.
Among the concerns for Nick Millican is the location of the former shipping container in an industrial yard. The real estate expert and investment manager explains the listing does not detail any utility hookups or bathrooms, which should be cause for concern.
The Stratford area was the home to the last Summer Olympics and has seen a growing trend for tiny homes and shipping freight houses. A mobile home and an unfinished shipping container is for sale at the same industrial yard for $25,000. Nick Millican explains the furnishing of the shipping container is valued at $50,000, which he believes could be problematic for future shipping container sales.