Realtor.com

Property and guitar-strumming hippies don't always make for strong property values. But a Hollywood Hills treehouse once owned by John Lennon is selling for $1m, or £622,000.

Current owner, Australian Olympic swimmer Ian Thorpe, snapped up the property in 2006 for $879,000. A bargain, considering the strong Beatles connection?

Rockstar royalty

The Beatle's former house, in Laurel Canyon, close to downtown LA, is very a two-bedroom open-plan property. However the massive decking area is where the property listing claims "some of the world's most beloved songs were written while enjoying the stunning city views."

Yoko Ono's influence is clearly felt, with sliding Japanese-type screens giving privacy to the master bedroom. There's just one bathroom and the interior square footage is underwhelming for a star of Lennon's wattage: 960 square feet.

Many of the neighbouring houses are seemingly remote, hidden by cypresses and eucalyptus trees. Laurel Canyon attracted many other big rock stars of the time, including Jim Morrison and Joni Mitchell. But it's the views and the decking that make Lennon's former property.

Let it be

Does rockstar lineage support a property's market value? The consensus is that it's very much a mixed bag. Sometimes. It depends on where the property is and how much the neighbourhood has changed - for better or worse.

There's few hard facts about Lennon's own stays at this property, built in 1961, to support values. Which songs were written at this house? How often did he live here?

Celebrity property values, you're warned, can be hugely over-inflated. The home of fashion designer Gianni Versace sold at auction for $41.5m last month to the owners of the Jordache jeans brand. But the original asking price was $125m (though it was lowered subsequently to $75m). However the designer paid just $2.9m for the property in 1992. There are no details unfortunately on how much Lennon paid for his own stunning treetop pad originally.