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London - Supply/demand

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London has a population of 7.5 million. It's peak was in 1939 when it had 8.6 million.

As we know, London's population is no longer in decline. But it isn't growing as fast as you'd think. The real rate of growth is 2.3 new residents per hour. It is only the 360th fastest growing city in the world.

These statistics add further weight to the argument that lack of supply is not propping up the market. Speculation is clearly the only thing propping up the market... Speculation that the rate of growth might be or will be much faster!

Source: Tate modern exhibition on Global Cities.

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