Four in every ten London homes that sold for more than £1 million last year were snapped up by foreign buyers, according to new research.
This has the knock-on effect of pushing prices up in Brighton and Hove where many Londoners, either finding themselves priced out of the property market in the capital, or taking advantage of the high prices to sell up, then look to other places to buy, Brighton and Hove is their top choice, which means prices here rise by more than the national average.
Russians, Indians and Italians were the biggest non-British buyers of the capital's seven-figure houses and flats in 2013, according to analysis by aviation firm Beechcraft Corporation.
The number of homes being sold for more than £1 million in Greater London rose to 6,145, up 20% on 2012.
The research claims 41% of them went to non-British buyers, who spent a combined £5.1 billion on properties.
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