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11/12/2015

Lights out in London?

Words: Simon Wicks
London

London is becoming a city unaffordable to all but the few, and then many of their investment properties are left with the ‘lights out’. Simon Wicks looks at efforts to bring more affordable housing to Londoners

According to the Greater London Authority, the average house price in the capital in 2015 was 11.04 times the average salary.What UBS Bank described in a November report as this “decoupling” of house prices and incomes makes London the most “overvalued” property market in the world. Only Hong Kong has residential property that is less affordable to buy or rent.Some are calling London’s........
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