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Investment supplement: property—a moment of sobriety

House prices in London won’t rise this year—but there are still investment opportunities

By Lucian Cook   March 2015

In 2014 the total value of housing stock in the United Kingdom rose by £543bn to a whopping £5.75 trillion, a sum equivalent to the combined Gross Domestic Product of Germany, France and Italy. However impressive (or frightening) this statistic, it hides the fact that 2014 was a year of two halves: a first half of sentiment-fuelled price growth, the second a period of regulation-induced sobriety.

Nowhere was this more evident than in London, where the value of housing stock has doubled in a decade so that it now accounts for a quarter of the total value of…

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