After Toronto, Stockholm, Munich, Vancouver, Sydney, London and Hong Kong round out the top six, according to the banking giant's latest Global Real Estate Bubble Index
Buyers in the prime central London property market are still cautious with the £5 million plus sector seeing particularly low activity levels, according to new research.
There is an increasingly polarised market in this sector where growth is still being seen at the lower end and high end sales are limited in volume, according to the latest statistics covering the third quarter of 2015 from Strutt & Parker.
A new collection of data maps of London reveals a city heaving with information.
A quick quiz question for you. How many football pitches could fit inside the Greater London boundary? Well, 220,000 of them would fill the space between Cockfosters and Croydon, Heathrow and Hornchurch.
That statistic is just one of thousands of facts and figures contained in a new book about London, which according to its creators is the most data-heavy capital of the world.
London's Gherkin skyscraper has been sold to investment giant the Safra Group in a deal reportedly worth £726m. BBC News spoke to a consultancy firm ahead of the sale to gauge how much the capital's iconic skyline might now be worth.
Four luxury apartments in a development with views of Buckingham Palace have broken the price record for properties in London’s Mayfair – an announcement that will add to fears that wealthy foreign buyers are fuelling a housing bubble in the capital.
British Land, one of Britain’s biggest developers, said it had sold 18 of the 34 flats in its “super-prime” Clarges Mayfair development for a total of £210m – an average of just over £11.6m each – even though work only began on the site earlier this year.
It's the kind of property where you feel you might have to breathe in when you enter the door – this slimline property in south-east London is reckoned to be one of the narrowest in town, measuring just 99 inches, or 8ft 3 across, at its widest part. It gets even skinnier at the back, where the galley kitchen is a mere 62 inches, or 5ft 2 across, but despite its slender proportions, the 466sq ft property in Denmark Hill was put on the market for £450,000.
London is experiencing “the biggest house price bubble ever”.
This was the headline in the Evening Standard after the Land Registry said house prices in the capital were up 13.8% in a year.
The average London house has gone up in value by just over £50,000 in a year. The Standard said this compared with the average salary in London at £36,781.
The BPF has issued a press release highlighting their new report that reveals that overseas buyers accounted for 15% of new homes purchases in London in 2013.
The report, which was commissioned by the BPF and carried out by Molior London, also explains how the economic climate of the last four/five years has directly influenced investment in the London property market.
The governor of the Bank of England has admitted it is powerless to control the soaring prices of prime property in London.
Mark Carney played down fears of a bubble in the wider market, dismissing suggestions that the coalition's Help to Buy scheme was having a significant effect. But he made clear that when it came to the boom in the most desirable areas of the capital – which many blame for stoking prices elsewhere – the Bank could do little more than watch.
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