Saturday, January 19, 2008
Dec 2006: House prices in UK will never crash, say Mr and Mrs Wilson of Ashford, Kent
If you think house prices are already outrageous, look away now. According to two former maths teachers from south London, who are Britain's buy-to-let king and queen, the property market will never crash. Husband and wife magnates Fergus and Judith Wilson have just signed a deal to buy their 700th house. If things go to plan, they will become the country's first buy-to-let billionaires. Every week they buy another house - and on one day alone spent £10m buying 40 properties off a distressed developer. In the early 1990s the Wilsons were marking maths homework and writing school reports at a Blackheath comprehensive. Today their property empire is worth £240m - almost all of it within commuting distance of the Eurostar terminal in Ashford, Kent. They put their personal wealth at £180m.