A man who paid £5,000 for his house on the country’s “most dangerous street” in 1970 thinks it is now worth £1 million.
Hasan Rezvan migrated to the UK from Cyprus and bought a four-bedroom terraced house on Coldharbour Lane, near Loughborough Junction station in south London.
He had wanted to buy another house in the street for £7,000, but the bank said he could only pay £5,000.
The neighbourhood, which borders Brixton and Camberwell, was shaken by the Brixton riots in 1981 and had gained a reputation for violence and drug usage by the late 1990s.
In 2003, the street was branded “Britain’s most deadly” after it was revealed that £1,000,000 in crack cocaine was traded there each month.
Notwithstanding the issues, the varied neighbourhood grew in popularity, particularly among young people drawn to Brixton’s nightlife, music, and cultural scene.
House values have skyrocketed as a result of this, as well as a general housing boom over the last few years.
Hasan stated that he has encountered relatively few troubles in Coldharbour Lane.
‘Around 15 years ago, they broke into next door twice, but the woman living there stated it was her ex-boyfriend,’ the 75-year-old recalled.
He claimed that there used to be a lot of problems at a neighboring block of flats named Liliford House, with fights and frequent police visits, but now there’s ‘hardly anything’ and things are ‘getting better’.
‘I do not feel unsafe,’ he explained.
A new housing block was recently built across the road from Hasan. He was initially worried about the effects of such a large influx of people but says there have been no issues.
He explained while his house is worth a lot, he does not have ‘money in his pocket’.
‘The only way to get it is to sell it up and go home to Cyprus,’ he said. ‘But I’ve lived here for 50 years, this is my home now.’
According to Rightmove, the average price of a home in the area is £560,000, but terraced houses often go for well over a million. A four-bed terrace in Coldharbour Lane similar to Hasan’s sold for £1,075,00 in June 2021.