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tomandlu

Prime Central London Property Prices Inflate Bubble Fears

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"Inflate bubble fears" - not sure if that's a mixed-metaphor or not. Nothing we didn't know or suspect (and apols if already posted).

http://www.guardian.co.uk/money/2013/jun/20/prime-central-london-property-bubble

"Some of the richest people in the world are buying property as an investment. They live here for a fortnight in the summer but the rest of the year they are contributing nothing to the local economy," says Paul Dimoldenberg, leader of Westminster council Labour group.

One of the reasons so many homes lie empty is that house prices have been rising rapidly, meaning capital appreciation is so high there is little incentive for some investors to let their property.

Still, there is some good news (ish - it would appear that we couldn't buy these properties back even if we wanted to)... estate agents may be about to suffer...

Another issue raised by commentators is the shortage of homes for sale in PCL. Many existing overseas owners are not reselling on the open market; instead they sell or pass them on to members of their families, or advertise them through agents in their own countries.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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