Topic: | Re:Re:Re:Re:Re:Re:Empire House - Plans approved | |
Posted by: | Adrian Irving | |
Date/Time: | 30/01/15 15:38:00 |
IN REFERENCE TO MY LAST POST Meanwhile, look at the type of homes that are going up. Figures this week from Property Vision showed that over the next decade in central London, the vast majority of the 54,000 houses currently planned or under construction will go on the market for £1 million or more, mainly to overseas investors. These will either be held by the global, super-rich as London boltholes, or rented out at £30,000 to £40,000 a year (assuming that the owner is looking for return of 3% to 4%). That prices out the vast majority of Londoners, meaning those tens of thousands of new homes will barely register in the supply-to-demand equation. But forget about all the data. Most Londoners just rely on our long memories: history tells us that every time the market slows, it comes roaring back with more gusto than ever. Little wonder, then, that Foxtons is still opening stores lik |