Quote:
Originally Posted by Stuart
IIRC, last year, they had an article in the Standard about a woman who had bought a flat in the seedier part of Soho for (IIRC) less than £80,000 and recently sold the same two bed flat for £2.5m.
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Even places like Richmond upon Thames were running at a household earnings to house prices multiplier of around 4.5 historically, relative to the 3.5 nationwide.
Thanks to a combination of Tory liberalisation of the mortgage market, Labour riding the credit boom, and both being completely ignorant of that the Town and County Planning Act is in no way fit for purpose in the 21st century those multipliers are more like 10 times for Richmond upon Thames and 5 times for the rest of the country.
The scarier part is that Richmond upon Thames has as I remember the second highest median household income in the whole of London.