London

Today of course, it’s a whole different story, and sellers have an uphill struggle in a falling market.

In desperation, some are resorting to trying to offload their properties through competitions.

Capital investment or sale of century?

Some reckon this is a gimmick, but property expert Seetha Hallett meets some sellers who’ve embraced the idea.

Ruislip builder Kirk Clugston couldn’t get the asking price of £570,000 for his house and so – after navigating the Gambling Commission’s tough regulations – he has set up a website so that people can pay a modest entry fee and try and win themselves the keys.

Developer Rafik Patel has renovated a block of 11 luxury flats in Tower Hill, worth over £8m.

He is now selling 200,000 tickets at £50 a pop, in the hope of enticing enough entrants and turn a profit.