London's housing market bubbles
(MENAFN) Housing market of London is expected to bubble territory after property prices have boosted compared to earnings, according to Iran daily
Houses in London are now 11 times more than individual's income, the forecasting group ITEM Club reported
The report said that it is compared with a multiple of 6.5 times for Britain as a whole and represented "bubble-like conditions.
Andrew Goodwin, senior economic advisor to the ITEM Club, said: "House prices across most of the country remain well below their pre-crisis peaks and there seems little danger of a bubble developing.
Houses in London are now 11 times more than individual's income, the forecasting group ITEM Club reported
The report said that it is compared with a multiple of 6.5 times for Britain as a whole and represented "bubble-like conditions.
Andrew Goodwin, senior economic advisor to the ITEM Club, said: "House prices across most of the country remain well below their pre-crisis peaks and there seems little danger of a bubble developing.
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