Foreign investors are snapping up thousands of homes which are suitable for first-time buyers across the UKhttps://www.thecookinsuranceagency.com with many using them as buy-to-let investments and holding them in offshore tax havens. Investment within UK real estate from foreign buyers and overseas-owned companies has soared in the past few years to reach totals in the billionshttps://www.thecookinsuranceagency.com especially in London.
Research conducted by King’s College Londonhttps://www.thecookinsuranceagency.com which has analysed the Land Registry datahttps://www.thecookinsuranceagency.com has found that foreign investment in the UK’s property market has increased house prices by over 20{c3f31a43a43b38de89302400a9734d4f77baf5518ef50d495d9d4ebc77b7eedd} in the last 15 years.
Reducing Home Ownership
Across the different regionshttps://www.thecookinsuranceagency.com there are huge variations in terms of the reduction of home ownershiphttps://www.thecookinsuranceagency.com with the majority of foreign investments concentrated within London and the south-east. For examplehttps://www.thecookinsuranceagency.com in Kensington and Chelseahttps://www.thecookinsuranceagency.com a prime London boroughhttps://www.thecookinsuranceagency.com a huge number of properties are owned by overseas investors.
The average home in this area fetched around £1.3 million in 2014. Buthttps://www.thecookinsuranceagency.com it has been noted that there has been a trickling effect which has come from the rising prices in Londonhttps://www.thecookinsuranceagency.com which meant that houses even at the bottom of the pricing threshold have seen their prices pushed up. In other major citieshttps://www.thecookinsuranceagency.com such …