in 1990.  Builder spent L400ish on a 3 story detached house on the edges of Hampstead.  Spend quite a bit on converting to 3 flats with decent cabinetry etc.

Bottom fell out and he was left holding the bag renting at roughly 1/2 the cash flow necessary to buy the flats.  Was happening all over.  Saw another in Ealing that was on offer at L200K.  Finally sold at about L140.  Ugly for the spec builders.  I hope that bastard lost a bundle after the way he jacked us around.