The growing divide between prime central London and the rest of the UK housing market

Strickland, Jack (2014) The growing divide between prime central London and the rest of the UK housing market. BSc dissertation, University of Portsmouth.

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    Abstract

    The exceptional performance of residential property in prime central London during the UK recession has put the market at the forefront of real estate commentary. Within the media, overseas buyers have drawn criticism for inflating house prices: alienating domestic buyers. Politically, all three major parties have signalled that they would consider some form of increase to the taxation of property over the coming years. This dissertation looks to assess whether the prime central London residential market is sufficiently distinct from the rest of the UK in that it operates as part of a global property market. Pre-determined research objectives will be answered through critically analysing literature surrounding the subject and conducting individual research.
    The current performance of the prime central London residential market in comparison to the rest of the UK is compared with the historic relationship between the markets to make an assessment of whether the link between house prices in the two markets has been severed. Through establishing the current attractions to the market and determining when, how and why overseas buyers have entered the market, the impact of the participation of global High Net Worth Individuals on the market is evaluated. Finally the future attractions and risks to the prime central London residential market are identified to forecast the future relationship between the markets.
    The individual research within this dissertation comprises of telephone interviews with eight property professionals operating within the prime central London residential market to obtain qualitative information surrounding the drivers and risks to the market. Through conducting this research it has been identified that the prime central London residential property market is sufficiently distinct from the rest of the UK in that it operates as a separate entity to wider UK housing market.

    Item Type: Dissertation
    Departments/Research Groups: Faculty of Technology > School of Civil Engineering and Surveying
    Depositing User: Beth Atkins
    Date Deposited: 16 Jan 2015 14:56
    Last Modified: 28 Jan 2015 12:47
    URI: http://eprints.port.ac.uk/id/eprint/16466

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