Sunday, October 26, 2008
44% drop in price – for a beach hut
A tiny beach hut has gone on sale for £45,000 - even though the country is in the middle of its worst economic crisis for more than 70 years. The small grey building in Southwold, Suffolk, was put on the market after a similar one sold for over £80,000 in the summer before the financial woes. The estate agents involved are confident of finding a buyer despite a collapse in the market. Richard Leeming, a director of the estate agent, said: "Southwold is a special place in people's hearts and it is popular for holidays, holiday homes and people from the city with second homes. Life is tough at the moment for most people but maybe not all of them." Despite the optimism, Mr Leeming admits there has been a slight reduction in interest.