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"Boom and bust: how property markets are faring around the world"

Hammerson's rejected Brent Cross proposal, on extended Welsh Harp
Link to The Observer

"... Then there's London. The contrast with the rest of the UK has never been more stark. Prices in some outer boroughs are below their peak, but in wealthier central districts, the crash never happened. 

"In Kensington and Chelsea, the average home now costs £1.08m, up 13% during 2012, and £330,000 ahead of 2007.

"Meanwhile, tenants have never had it so bad. Young adults and families unable to afford huge the huge deposits demanded by lenders have turned to the private rental market, where rents have climbed, even as average pay has stagnated."

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