The average price of a London property jumped 9.2% last year to a huge £481,820, according to the Land Registry.
But what’s behind the insane rise in prices? A lot has been made of the influx of foreign money, with David Cameron saying on Tuesday he was worried about London’s housing market becoming a haven for dodgy money from corrupt foreigners.
And programmes such as Help to Buy, a government plan that lowers the size of a deposit needed on new builds, have helped get the property market moving.
But the simple truth is the price rise is largely down to read more >>>
Source : BusinessInsider.Com