London’s £300m house

Consumer demand

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£300m house.pngBlog readers are often very successful people. So the blog thought you might like to know that the London house above is now on sale.

A bargain at just £300m ($480m), the Financial Times reports it has 45 bedrooms on 7 floors and overlooks Hyde Park. Covering the area of a soccer pitch, it naturally includes a swimming pool, an industrial-size kitchen for entertaining, and underground parking. The decor apparently contains gold leaf woth £ms.

Its sale highlights the boom at the top end of the housing market. Home prices have been falling in most parts of the West since the Crisis began. But not for the super-rich. The asset bubbles created by the major central banks have been good news for them. Top-end London prices have risen 49% since the first stimulus programme in March 2009.

Blog readers are advised not to delay their purchase, now more stimulus plans are underway. An agent who specialises in the market suggests “You are going to have to wait a long, long time for something like this to come on the market again.”

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