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Median house prices in London the median house now cost up to 12 times the median London salary. In 1995, the median house price was £83,000, 4.4 times the median income. By 2012–13, the median income in London had increased to £24,600 and the median London house price had increased to £300,000, 12.2 times median income [8]
[3] [4] However, the cost of housing as a proportion of income is higher than average among EU countries, [3] and the increasing cost of housing in the UK may constitute a housing crisis for many especially in London, [5] [6] [7] — the rate of over fivefold house price increases far exceeding the inflation rate of just little above twofold ...
Domestic real estate represented the largest non-financial asset in the UK, with a net worth of £5.1trillion (2014). [3] Foreign investment plays a substantial role in the UK's real estate market, particularly in London, and foreign companies and individuals invested around £20billion in UK real estate in 2012. [4] [needs update]
In the 2010 budget, the Chancellor ended stamp duty on homes under £250,000 for first-time buyers for a two-year period, while introducing a new 5% rate for properties over £1,000,000. In the budget of 2012 , Chancellor George Osborne introduced a new 7% level for properties over £2,000,000 to assuage Liberal Democrat demands for a mansion tax .
In 1996, Estates Gazette launched its own online property news and research arm, EGi. In 1997, the group launched Propertylink, the UK's largest free-access commercial property availability search website. In March 2008, Estates Gazette was announced as one of the top 500 "Business Superbrands" in the UK. [2] EG Office (2012)
Hundreds of children’s care home placements are costing councils over £10,000 a week, new figures obtained by The Independent show.. English councils are spending these staggering amounts for ...