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Here's the simple reason why London's property market is so out of control

Posted BusinessMediaguide.Com
The re development of Battersea Power Station's and it's chimneys continues on February 18, 2015 in London, England. As part of the extensive redevelopment of Battersea Power Station, the four iconic chimneys will be entirely rebuilt over the course of the next two years. The regeneration of the 42-acre Battersea Power Station site will see the construction of over 1,300 homes, a 160 room hotel and 350,000 sq ft. of retail and restaurant space. (Photo by )

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