Sunday, August 27, 2006

Another factor propping up UK house prices?

London top homes draw world billionaires

More than 51 per cent of homes worth more than £2m sold in the last year have gone to overseas buyers from Russia, the Middle East and elsewhere, according to figures from Knight Frank, the agents. (Bet they don't pay tax here either!). The data help explain how London prices have soared in the last year while the rest of the UK market has stagnated as a result of affordability issues and interest rate fears.

Posted by uncle chris @ 10:24 AM (602 views)
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3 thoughts on “Another factor propping up UK house prices?

  • Retiredbanker says:

    Anybody who walks around the wealthy areas of London already knows that this is the case.

    Why does this country have to be a haven for these people, many of whom have made their fortunes by
    dubious means ( environmental damage caused by their business; illicit deforestation; slave labour
    conditions and intimidation of their work force; arms and drug dealing; etc.,etc.).

    Following my early retirement from banking, my wife insisted that I did something useful, so for 2 years
    I worked in the Civil Service. I was employed in a department in Whitehall; plenty of time to move around
    and talk to people, as after the pressurised world of banking the pace of work was very leisurely.
    A very senior official ( who had worked with Margaret Thatcher on a regular basis and made some
    fascinating observations ), told me that the Russian Mafia were moving into the ( very expensive ) part of
    Surrey where he lived.

    Our useless politicians ( of all parties- remember the saga of the Conservatives and Al Fayed ), seem
    to be dazzled and seduced by wealth, and never ask any of the right questions.

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  • Bliar continues to pimp out the UK to gangsters and corrupt buisinessmen from the world over, while ignoreing the increasingly desperate position of his own working class. Importing ‘hot’ (in all senses) money to buy property and land, and displacing his own people in the process. Is this why help is offered only to ‘key workers’ i.e. only those deemed necessary in order to service the global rich elite in their super casinos etc. ?

    Britain has been turned into an offshore tax haven for global capitalists & gangsters.
    What a shame the British don’t have the Courage of the Cubans to resist.

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  • Tick-toc, it’s not an issue of courage, it’s the working classes aspiring to the status of this morally bankrupt rich, and rejoycing in the fact that their two up two down home has ‘made’ them £100 in 10 years. Sad state of affairs…

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