They're back!
The Sydney Morning Herald tells the tale of Stately Squatters:

A group of squatters has taken over a historic house in central London worth millions because they say the British capital is too expensive a place in which to live.
...
Located on King Street, opposite Covent Garden, the house is in one of London's prime locations. It is estimated to be worth up to £20 million ($56million).
...
Mattresses, empty beer cans and piles of rubbish are strewn across the five-storey house which in its time played host to the cream of British society.

One squatter was quoted in The Times saying: "I like to travel and it's very hard to stay in London and save money. Squatting allows me to save my money so I can go off around the world."

I remember that about 20 years ago squatting was a problem in London because trespassing was a civil matter, not a criminal offense. According to the original Times (UK) article, things have only slightly improved.

Hmm, weren't squatters what shotguns were invented for?