While I accept the UK property market extends beyond the M25, it is clear that London’s market and economy are entirely different to the rest of the country’s.
This is highlighted by the result of the EU referendum: 60% of votes cast in London were to ‘remain’, compared with 48% across the UK.
London is a global city, and as such has a global property market. This is why I share mayor Sadiq Khan’s calls for more control over planning and infrastructure to be handed to the capital. London must be able to chart its own course on fiscal matters and housing.
London makes a net contribution of approximately £34bn to the UK economy every year - the country has too much to lose if London fails to retain its world-class status. At the very least, London must have a seat at the negotiating table. This is uncharted territory for our sector, and our capital needs to have its say.
Doris Ishack, managing director, DI Properties
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