With a mayoral election just weeks away, a mansion tax is not the housing issue Londoners should be talking about. Speculation is rife about whether some form of mansion tax will make it into the budget on 21 March, with some Londoners already up in arms about the impact this could have on the capital, where many of the country’s most expensive homes are located.

But is this really the big housing issue Londoners should be talking about? Since 2000, the average house price in the capital has risen from £192,000 to £415,000, with the average deposit now more than three times the median London wage – just £25,400 after tax. Millions of priced-out Londoners are being forced into the capital’s swollen rental market, vulnerable to eviction at short notice and facing rents that take up as much as half of their pay cheque. Figures released yesterday by Shelter show that 1.8 million people are planning to leave the capital because of the high cost of housing.

While a mansion tax could play a part in solving these problems, it isn’t enough. As the mayoral election approaches, the real question on Londoners’ lips should be: what will the next London mayor do to tackle London’s housing crisis? Read More

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U.K. House Prices Rise In March: Rightmove

March 19, 2012

U.K. house prices continued its upward trend in March, as first time buyers rushed to avail the stamp duty exemption, a survey carried out by Rightmove showed Monday. Asking prices of property for sale grew 1.6 percent month-on-month in March, following the 4.1 percent increase in February. In the first quarter, house prices were up [...]

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Swiss asset manager Semper targets UK investors

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Amundi Real Estate makes first UK investment

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Amundi Real Estate has acquired a stake in 5 Canada Square, Canary Wharf, London, representing the first acquisition in Europe for Amundi‘s retail real estate collective investment scheme (OPCI). The building is in the centre of Canary Wharf, London’s business and shopping district, and is managed by EvansRandall, the London based investment banking and private [...]

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UK Land is just like Gold

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“The best investment on earth is earth,” so said the American real estate investor and philanthropist Louis Glickman. That’s a message that may have been a little lost in the giddy rush to make a quick buck on the stock market, but in the sobering wake of the financial crash those words have taken on [...]

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Songkick Secures Sequoia’s First Ever UK Investment With A $10M B Round

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Songkick – which allows users to follow music artists, their live music events and book tickets – has raised a $10 million B round of financing from Sequoia Capital. This is Sequoia’s first ever investment in a U.K.-headquartered startup. The round takes Songkick’s total funding to date to around the $17 million mark. Previous backers [...]

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