Homes in London

Meeting: 
MQT on 2015-07-15
Session date: 
July 15, 2015
Reference: 
2015/2280
Question By: 
Len Duvall
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Given your recent remarks on this matter, have you estimated the number of homes in London that have a) been sold off plan; b) sold off plan to cash buyers and c) sold off-plan to foreign cash buyers?

Answer

Answer for Homes in London

Answer for Homes in London

Answered By: 
The Mayor

All available evidence suggests that the number of homes in London sold to foreign buyers each year is relatively small.  According to the Bank of England and LSE it equates to no more than 3% of transactions by number and 7% by value. There is no reliable data source for the proportion of new homes that are sold off plan, the proportion of these that are cash sales.