Immigrants blamed for house price boom
Monday, 08 Oct 2007 08:10
Struggling homebuyers blame restrictive house price growth on immigrants to UK
The UK property boom of the last decade has been blamed by struggling first-time buyers on rising levels of immigration.
According to a new survey of homebuyers, greater controls on immigration to Britain is the best option open to the government in reining in house price growth.
Website Propertyfinder, which conducted today's poll, says 21 per cent of respondents want to see immigration levels better regulated.
A further 15 per cent directly blame immigrants for pushing
house prices up, while 16 per cent level the same accusation at property developers.
The property site's chief executive Warren Bright says the survey has revealed great misunderstanding among the UK public over the root cause of the British housing boom, with just six per cent of people pinning the blame on stable low
interest rates and inflation.
"Ten years of low interest rates have brought about Britain's high house prices, but this is poorly understood by most people," Mr Bright said.
"Immigrants and property investors make high profile scapegoats but are simply too small in number to be responsible," he continued.
"The drift to the south by the UK's own population has pushed prices up faster there than elsewhere in the country, but that is nothing to do with immigrants and does not affect overall national average prices.
"In any case, the house price boom predates the recent big wave of immigrants."
Commenting on the survey's findings, shadow immigration minister Damian Green said an "explicit annual limit" from immigrants outside the EU was needed.
"Not only will it mean we can control immigration for the benefit of the economy and so that the public service infrastructure can cope – it will avoid increasing tensions between communities," the Conservative MP explained.