Home sellers in London raised asking prices 10% in the early weeks of October, as foreign buyers continued stoking the market, adding to concern a fresh property bubble may be forming.
The capital’s steep price increases have also fueled concern among policy makers that many residents may be forced out of the market.
“This phenomenon has helped…to fuel the anger of professional people who cannot afford to live in districts where their parents grew up and who cannot see how their kids will ever be able to afford to buy in London,” said the city’s mayor, Boris Johnson, in an editorial in the Daily Telegraph.
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