Homes in the ten richest London boroughs are worth the combined total of houses in Scotland, Wales and Northern Ireland, it emerged yesterday.
And in a dramatic illustration of the growing wealth gap between the South East and the rest of the UK, a survey has revealed that Elmbridge, a borough in the Surrey stockbroker belt, has a housing stock of £31 billion – £2 billion more than the whole of Glasgow.
Northern Ireland’s housing stock of 765,000 properties is worth £72 billion. The region has experienced the steepest fall in a single year -just over 10% last year or 50% over 5 years. Still, one person’s investment disaster is another’s opportunity. To us oldies it’s a gap that’s just like old times, when we painfully straddled the Irish Sea…..
Former BBC journalist and manager in Belfast, Manchester and London, Editor Spolight; Political Editor BBC NI; Current Affairs Commissioning editor BBC Radio 4; Editor Political and Parliamentary Programmes, BBC Westminster; former London Editor Belfast Telegraph. Hon Senior Research Fellow, The Constitution Unit, Univ Coll. London