Reserve half of all homes for Britons to stop foreigners snapping them up, says think tank report

Restrictions on house buying by people who don’y pay tax in the UK need to be brought in in order to place home ownership at the front of the policy agenda, reports Christopher Hope in The Telegraph.

In his new report, ‘Homes for Everyone’, Chris Philp MP points out that foreign buyers are snapping up large numbers of new-build homes and preventing Brits from getting on the housing ladder.

As The Telegraph piece points out, this is not a matter of a few isolated cases.

“Mr Philp highlighted a development in Baltimore Wharf, in London’s Docklands, where nine out of 10 of 2,999 apartments were sold abroad.

In another development in Manchester 94 per cent of 230 flats went to non-UK residents, more than half of them to a company based in the British Virgin Islands.”

Read the full piece on The Telegraph’s website.


Date Added: Wednesday 13th December 2017