Going for goldPosted: July 31, 2012 Filed under: Housebuilding, Housing market Leave a comment
As the Olympics gives a daily boost to London’s image as a global city, how long will it be before the government acts on overseas property ownership?
The evidence on the scale of the ‘investment’ and the impact on the rest of the London housing market is mounting steadily. In March, I blogged about a report from the IPPR arguing that London property has become a sort of global reserve currency for the wealthy elite and warned about the effect on housing across the capital as billionaires price out millionaires and the effect works right down the system to priced-out first-time buyers, ripped-off private renters and forced-out housing benefit claimants.
Read the rest of this post at Inside Edge, my blog for Inside Housing