Thursday, May 31, 2012
London property…
Euro break-up 'could wipe 50pc off London house prices'
A break-up of the euro could see London property prices halve as the world’s wealthy house buyers look elsewhere once more, say economists. Property prices in the capital’s most sought-after postcodes have been driven up by investors moving funds out of assets held in euros to buy into what is seen as a “safe haven†alternative. Foreign money seeking a refuge from the wider economic turmoil accounted for 60pc of acquisitions of prime central London property between 2007 and 2011, according to a report by Fathom Consulting for Development Securities.
Posted by hpwatcher @ 06:35 AM (1375 views)
6 thoughts on “London property…”
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sneaker says:
HURRAY!!!
paranoia blue says:
Hurry!
happy mondays says:
Nice thought, But i doubt…
mark wadsworth says:
They’re piling good news on top of good news today 🙂
will says:
Rejoice citizens of London. Love to hear Boris’ comments on this one.
libertas says:
This is nonsense. A Euro collapse will push capital towards London. What will slash property prices in half will be interest rates rising to double digits. In a Euro collapse, Britain will be under pressure to weaken its currency so will move towards quantitative easing. This will cause property prices to collapse against gold as the currency is competitively devalued but, they could actually rise in nominal terms if that happened.
However, at some point, if hyperinflation is threatened, currency devaluation could be replaced by currency protection and higher rates.