In London’s upward-trending Clapham neighborhood, there is this famous "Slim House". At just seven feet and seven inches wide, narrower than a train car, it is an original “gap house,” meaning it’s squished between two larger buildings. With such a narrow and deep space, it is quite a challenge for any designer. The building first cropped up on designer radars in 2013 when the owner wanted to have a complete makeover.

A local firm took on the challenge by adding an extra bedroom and new skylights to have a 48-foot-long, landscaped garden.Now the property has been successfully transformed into into four bedrooms of over 1,058 square feet. Since then, the property got a lot of attention and was featured in one of the popular British home TV shows.

This slim house is currently on the market for a 1 million pounds ($1.4 million),It may seem like an expensive proposition, but in Clapham, the average price of a four-bedroom is currently 1.30 million pounds.

In 2016, the most desirable neighborhood around London was already fetching 1,000 pounds per square foot.According to Bloomberg, the median price of a London home in November was up 4.5% from a year earlier. In the previous year, home prices had grown 6.4% after two years of 12% growth.

London's Property Market Price Change (source: Bloomberg)

However, London’s property market is starting to cool off.Prices in the Slim House postcode area has seen a 4.5% drop last year with experts predicting a rough 2018. For property buyers, it is probably wise to take a wait and see stance before jumping into the NYLON wagon.