UK property market ‘summed up’ by disused London Phone Box listed on sale for £10k

"Quite roomy for London to be fair," joked one social media user

Situated beside a junction in Winchmore Hill, North London, this Grade II listed emblem of the analogue world has a price tag of £10,000 despite covering just 9sqft.

Ahead of the Thursday, September 11 bid klaxon, Strettons Auctions' description urges potential buyers to transform the 89-year-old kiosk into advertising space; a vending machine, florist, coffee shop or ice cream stall, and even a mini art gallery - the one caveat being that any new enterprise would be 'subject to obtaining all necessary consents'.

In response to the phone box's colossal asking price, social media users have elbowed their way into the conversation to highlight how it's typical of the UK's crazy property market right now.

"Finally. Affordable housing!" read one of the sarcastic comments.

A second individual went on to joke: "Quite roomy for London to be fair."

"Are telephone bids acceptable?" asked somebody else, while a fourth person wrote: "Could just about fit a 'Live Laugh Love' sign in."

"Probably the only time I could afford a grade II-listed property," shared another.

"It's a cool idea to turn it into a tiny business location though," pointed out a more open-minded user.

This comes after Grand Designs presenter Kevin McCloud called the UK property market 'broken' during an interview with The London Economic this year.

Asked for his opinion on the Labour government's housing policies and their promise to build 1.5 million new homes since coming into power, he said: "I've been talking to some friends of mine and some colleagues about trying to emphasise the need for quality in the build environment, the quality of design and quality of construction, and somehow enshrine that, if not in government policy then certainly in some kind of organisation that could carry some clout. Because so much of what's happening right now is reactive to government policy, and it's reactive to the wider delivery problems in the market, and there's a great deal of emphasis on the numbers.

"So either we radically remodel it through some kind of massive state intervention to effectively dismantle this capitalist structure, or we try and create a culture of quality in which those big players really find it hard to compete and where smaller players can come along and deliver."