Booming prices have made home-owning Londoners rich, but 150 years of data reveals rural houses offer higher yieldsWealth was surging in Britain long before Covid and energy bills got in on the “going through the roof” act. Official data last week showed household wealth rose to £15.2tn pre-pandemic. Despite a huge recession, it is likely to have defied all economic logic by growing further since, thanks to double-digit house price growth.Booming house prices in recent decades have made London’s homeowners the richest in Britain, but they also ensure that it’s our wealth inequality capital, with an army of asset-less renters. Does this mean property investors would have done best by investing in London or other global cities such as Tokyo and New York where house prices have boomed? Nope, says surprising new research examining 150 years of data from 15 countries. Continue reading…
Source : theguardian.com
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