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Debate House Prices


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40% In London

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Comments

  • TickersPlaysPop
    TickersPlaysPop Posts: 753 Forumite
    Seventh Anniversary 500 Posts Name Dropper Combo Breaker
    AndyGuil wrote: »
    Foreign owned properties in London make up 3% of the total stock.

    I'm interested to know what that 3% is in terms of money, I.e. What is the London foreign owned property value as a percent of the value of the total UK housing stock?
    Peace.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    edited 19 April 2014 at 5:09PM
    TickersPlaysPop wrote: »
    I'm interested to know what that 3% is in terms of money, I.e. What is the London foreign owned property value as a percent of the value of the total UK housing stock?
    It's irrelevant, 100% or even 50% of that 3% won't be bought or sold to affect prices. The transactions of these is very small in the overall scheme of things to even get close to affect prices.

    It's a great red herring to throw in there to try to convince people that London house prices are 'propping' up the rest of the UK.
  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    AndyGuil wrote: »
    Foreign owned properties in London make up 3% of the total stock.

    Is that all?

    I would have expected it to be much higher judging on Bantex's levels of anxiety.

    Oh well.
    Don't blame me, I voted Remain.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    mayonnaise wrote: »
    Is that all?

    I would have expected it to be much higher judging on Bantex's levels of anxiety.

    Oh well.

    I'm not sure that the 3% is correct
    but more important is whether it is relevant as prices are determined only by those properties that are bought and sold
  • AndyGuil
    AndyGuil Posts: 1,668 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    CLAPTON wrote: »
    I'm not sure that the 3% is correct
    but more important is whether it is relevant as prices are determined only by those properties that are bought and sold

    Bank of England financial stability report, November 2013 is the reference for 3% of London properties being foreign owned.
  • Gangaweed
    Gangaweed Posts: 169 Forumite
    The political class will do anything so that property prices don't fall. Anything.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Gangaweed wrote: »
    The political class will do anything so that property prices don't fall. Anything.
    They even go as far as ramping on Internet forums like this one.
This discussion has been closed.
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