Sunday, Apr 01, 2018

The biggest washest machine in the world?

Independent: UK housing crisis: Influx of foreign cash boosted average property prices by a quarter, research finds

Billions of pounds flowing into the UK property market through foreign companies has pumped up house price growth by more than a quarter, according to new research ... London Mayor Sadiq Khan commissioned research into the effect of foreign money on the housing market. It found that overseas buyers snapped up 3,600 of London’s 28,000 newly built homes between 2016 and 2016. Half of those were supposedly priced for first-time buyers at between £200,000 and £500,000.

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