HOUSING BUBBLE FORMING IN LONDON, WARNS ERNST AND YOUNG

Published: 06/02/2014

According to Ernst and Young, the economic forecaster, the average price in the London housing market is expected to reach around £600,000 by 2018.

The independent think tank Civitas suggests that house price inflation could be reined in by limiting the overseas buyers, as Australia, Switzerland and Singapore do.

Civitas argues that overseas super-rich are using the UK-property market as an investment instrument while thousands of residents are being priced out of the market.