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£600 million ($900 million) worth of property sold in the Battersea Powerstation development in four days. :eek: http://www.standard.co.uk/news/london/battersea-sales-bonanza-as-600m-flats-sold-in-four-days-8450783.html Sounds like a lot of it went to overseas owners. I'm starting to think...

Richard, I've heard a lot of anecdotes about people in their thirties and early forties moving out of London when children arrive because they can't afford a family home. (And the sort of thing I'm talking about is a 110 m2 terraced house in a decent suburb, not the proverbial Chelsea mansion.)...

I found this report on the London market today. http://www.smith-institute.org.uk/file/London%20for%20Sale.pdf It puts foreign investment into residential property at £5.2 billion ($8.1 billion) in London alone. That's more than the government is looking at spending on affordable housing...

An interesting comment on London from the FT (behind a paywall). The FT is probably wrong on subdividing the country into inside and outside of the M25. (The orbital motorway that encircles London.) There are pockets that remain extremely expensive in the regions. My brother's complaining that...

Found a piece earlier that Naomi Heaton, chief executive of London Central Property, who reckons that super prime London isn't in a bubble, and that the 8% to 9% growth rate is sustainable. Her basic argument is that it's being driven by foreign millionaires, and that there's a limited number of...

The link refers to Soros and Black Wednesday. At the time the Pound was in the ERM, and the markets had deemed the exchange rate to be too high. Soros and others in the fund industry saw an opportunity, and took short positions that the Bank of England attempted to defend against. The net...

The £30K fee is peanuts to millionaires, and probably not a deterrent, but will stop those on less than a six figure salary trying it on. There was a massive PR campaign against it when it was proposed, but, personally, I'd like all residents to be treated the same. I think that the UK market...

More likely the foreign buyer will be a non-domiciled resident, in which case they have to pay a fee of £30K per annum, and then all income from sources outside the UK in untaxed. :eek: The charge was brought in during the last government. Before then a non-dom wouldn't pay anything at all...

There's a report on the London market here. http://www.futureoflondon.org.uk/futureoflondon/wp-content/uploads/downloads/2012/07/120724LondonforSaleFINAL-2.pdf It pegs foreign investment as being lower than Jones Lang LaSalle (who supplied the data cited in my previous post), at 60%...

The London market is definitely weird, as it's continuing to rise despite an economic downturn, a shrinking finance sector, and ongoing uncertainty about just about everything. Anyway, the FT has a piece up today which shows just how dependent it is on foreign buyers... This diagram...