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Billions of pounds flowing into the U.K.’s property market from foreign investors has driven up house prices by around 20% in the past 15 years, according to a new study from King’s College London. House prices in London and the South-East held up, and then increased rapidly after the crash, because it was a worldwide slump rather than just a national recession. Foreign money poured into the U.K. housing market as a safe haven. This study is the first to try to put some sort of figure on the difference that foreign money may have made to the average price of a home in England and Wales. Without any foreign buyers, it calculates that a home would have cost £174k on average, rather than the £215k it is today. Winifred Robinson presents. First broadcast on You & Yours, 4 April 2018.