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TODAY'S OTHER NEWS

Here we go again - another '£1m home' is offered as a raffle prize

As the £1m-plus housing market continues to struggle in most parts of the country, so the use of stunts and gimmicks to dispose of the properties continues to grow.

The latest property to be the prize in a raffle is a four bed cottage near Bristol, owned by a professional hat maker who is quoted in the press as valuing the property at £1m. The winner will have all their fees and stamp duty paid.

Tricia Hamilton is quoted in The Mirror as saying: "I've been lucky to have lived in such a beautiful house for over 20 years and now it's time for someone else to enjoy it.”

The photographs used in the online version of the article credit Knight Frank as one of the sources.

Hamilton says of the house: "It's very unique, which works well for such an unconventional sale. I'd describe it as a Tardis as it's much more spacious than it first appears. It's also fairly cheap to run. I've only turned the water heating on seven times in a whole year."

The newspaper says Hamilton dropped the original asking price by over £300,000 when it was first marketed by an agency. 

There will be 150,000 raffle tickets marketed at £10 each.

The seller says she will use the funds to invest in her business and will give a donation to charity.

Recently the Gambling Commission has taken increasing interest in so-called lotteries featuring homes as prizes, obliging a number of owners to re-set their competitions to abide by gambling regulations.

You can see The Mirror’s piece here.

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