Capital crisis

The scale of the housing crisis facing London is hitting home with both Londoners and their political leaders.

In an opinion poll in the Evening Standard published today, half of people in the city say they fear being driven out of their neighbourhood by the cost of housing and six out of ten say there is a crisis in their area.

At one end of the housing scale, soaring demand from global investors is threatening to push house prices even further out of reach of ordinary Londoners. According to a report yesterday from the Home Builders Federation, it now takes the average first-time buyer 24 years to raise a deposit in London.

Read the rest of this post on Inside Edge, my blog for Inside Housing

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