Well it's not going to cost £1k unless you want to do fpv. Anyway, you can get most stuff from giantcod. I will list where I got my stuff from, you are guaranteed to have to get some stuff from hong kong at least
Arduino board- £10 from hong kong or £15 from the UK ( ebay uk)
Frame ( hobby craft wood)
Wii motion plus - Amazon
Nunchuck ( I already had one, make sure you get from somewhere like amazon as you want it to be genuine and not a clone)
Counter rotating and rotating props-Giant cod
Prop adapter - Ebay
Motors - Giant cod
The only thing I had to get from a far away land was some servo lead as they were male to male, it was about £3 for 8 male to male leads from Australia
So you might have to get some stuff from a far away land but giant cod has the stuff that you would normally have to, all in all mine totalled about £120 so it's not very hard hitting on the wallet
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This guy
http://www.rcgroups.com/forums/showthread.php?t=1505766#post19312519 is a uk chappy and has some more details. Also I found out that dunelm sell circular tubbaware boxes for 69p! I just put one over the sensors to protect them and bobs your uncle.