The London housing market has formed the world's biggest house price bubble, according to the Swiss bank, UBS.
It said the ratios of property prices to incomes, and property prices to rents, have reached all-time highs. And it warned that London house prices have become more "decoupled" from household earnings than anywhere else in the world. More than any other big city, the capital now faces the risk of a "substantial" price correction.
Visiting London? Download the eBook version of Lonely Planet's PDF London travel guide
London travel guide
Coverage includes: Planning chapters, The West End, The City, The South Bank, Kensington & Hyde Park, Clerkenwell, Shoreditch & Spitalfields, The East End & Docklands, Hampstead & North London, Notting Hill & West London, Greenwich & South London, Richmond, Kew & Hampton Court, Day Trips, Understand London and Survival Guide.
You can pick and choose from complete guides and individual chapters, and download them to any device you like.It said the ratios of property prices to incomes, and property prices to rents, have reached all-time highs. And it warned that London house prices have become more "decoupled" from household earnings than anywhere else in the world. More than any other big city, the capital now faces the risk of a "substantial" price correction.
London travel guide
Coverage includes: Planning chapters, The West End, The City, The South Bank, Kensington & Hyde Park, Clerkenwell, Shoreditch & Spitalfields, The East End & Docklands, Hampstead & North London, Notting Hill & West London, Greenwich & South London, Richmond, Kew & Hampton Court, Day Trips, Understand London and Survival Guide.
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