Share Thangam Debbonaire, Labour's shadow housing secretary, told the Daily Telegraph: 'This outrageous advert is evidence of a broken housing market and shows why we need more truly affordable homes.' Regulations introduced in 2011 prevent property developers building new homes that are smaller than 400sqft (37sqm). But as the flat was first leased in 1976, it is not technically breaching current laws, despite the 'blank canvas' single-room not even featuring a toilet. The flat in Princes Court is going to auction on March 31 with a guiding price of £150,000. The building itself is currently undergoing major renovation work. For the same price, a homebuyer could get a two-bedroom house with a garden in Portsmouth, Chorley or Loughborough.