Why Euroland can’t resist a London base

If you are reading this in your pleasant West London home then it will be cheering news, but if you are in a suburb just about anywhere else in the country then it may be a bit of a downer.

The gap between the 20 per cent of the most desirable houses in the country and the 20 per cent at the bottom of the market is growing much wider: expensive areas increased 3.4 per cent over the past year, while the cheapest fifth declined by 5.1 per cent.

As a result, house prices in London are nearly twice (1.94 times) the average of that for England and Wales – the biggest difference recorded since 2002, according to Chesterton Humberts.

Most of the world, including a large number of our neighbours in beleaguered Euroland, see London as a solid, risk-free asset, even if our banks are a bit wobbly and the Government has a deficit to slash.

Source: Mail Online