It doesn't make much sense to buy and then leave the property vacant on the hope of Capital growth. London may be unique in the UK Property Market as it experiences it’s own bubble & growth, but it’s not infallible. - Robert Jones, Property Investments UK
London, UK (PRWEB UK) 18 December 2014
One of the main causes of the housing crisis being discussed, was around a new trend in property investing from the Ultra Rich called Buy-to-Leave, which is affecting the most affluent areas of London.
(1. Source: BBC News - Date: 05-12-2014)
It was noted that one such London council, Islington, are adopting sweeping and controversial measures to try and tackle this problem.(1)
(2. Source: Islington Council Consultation Document on Preventing Wasted Housing - Date: December 2014)
The Council suggest that rich and wealthy overseas property investors are buying up sought after Prime London Property and then not using them to live in or as buy to let investments, but are instead seeking to leave the properties empty, in a short term property strategy that aims to benefit from house price growth.(2)
(3. Source: Property Investments UK Article - How To Tackle London's Housing Crisis - Date: 15-12-2014)
This was disputed by PropertyInvestmentsuk.co.uk Director, Robert Jones, and in a recent follow up article to the Radio discussion, property mentor Robert Jones, outlined his approach to tackling London's housing crisis and commented -
"Buy-To-Leave isn't the issue, this only affects a very tiny proportion of properties (if at all) and wouldn't fill the huge gap left by the lack of supply in London’s most populated areas".
"Also a very damaging outcome to the Council's change in planning policy, means that the council could indeed end up harming the very community it seeks to protect" (3)
In the same article, Mr Jones outlines alternative solutions to bringing empty homes back in to use and tackling the housing crisis, that the council should be considering instead.
To read more on the article or about Property Investments UK, please visit http://www.propertyinvestmentsuk.co.uk