From what i've heard they're buying up entire building projects before the first brick is laid.
China, Russia and Rich Euros are sending their money into London to protect it.
A change in foreign policy in the east could see a lot of people suddenly trying to sell their investments.
It'll certainly have some knock on to locals buying their first home true but it's down to the buyers to set the price.
When it came to buying my first house I refused to even think of pay London prices because I didn't think it worth it. House values dropped on my street because I knocked 25 grand off the buyers asking price.
It's now back up to that price (where's that smug chap picture....)
(
Cerebus Sticky! Sticky! Stick! Stick!, Fri 2 May 2014, 8:13,
Reply)
You really are the most supercilious c*** on here.
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Dawn Of The Bread $$$$ E-THUG 4 LIFE - THAT'S HOW I SCROLL $$$$, Fri 2 May 2014, 8:28,
Reply)
I'm not a "Russian cash buyer", but if I wanted a 1 bedroom flat around here
I'd still have to find 200k.
So it doesn't matter what the "cause" is (or rather, one of the many causes) of the inflation, this is the reality.
The whole of the southeast is on "london prices" these days, and if people generally had the option of "fuck it, I'll just move 100 miles away to where it is a bit cheaper", that place wouldn't be cheaper for long.
(, Fri 2 May 2014, 9:54, Reply)