Sunday, August 27, 2006
Another factor propping up UK house prices?
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.