A recent investigation reported in the London Evening Standard asked why people can’t buy their first London home. As average rents in the capital reach a record high, the Evening Standard investigation revealed that estate agents are targeting wealthy investors — and leaving ordinary home buyers out in the cold.
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Is this true?
Here, Edward Corry-Reid of Aylesford International comments
A lot of potential buyers in these prime postcodes where we work are investors, particularly international investors, who want to park their capital in a relatively stable environment. That said in prime locations they face much stiffer competition from owner occupiers, who are in a position to pay a premium for their ideal family house or London pied a terre without having to worry so much about the return.