Surging house prices in the South East have seen plenty of people’s houses soaring in value. For members of David Cameron’s Cabinet, the housing boom has seen coalition leaders rake in an astonishing £5.5m since 2010, according to the Mirror.
Cameron himself has made more money from him his property portfolio, through rents and rising values, than through his Prime Minister’s wage of £142,000 a year. Living rent-free in Downing Street, Cameron rents out his family home in Notting Hill for £72,000 a year. The values of that home and his Oxford home have risen rapidly.
Other ministers making more from their property than their salaries include George Osborne, William Hague and Jeremy Hunt.
The soaring property prices seen in recent months mean that Cabinet MPs’ houses are now worth an average of almost £1.2m, with each house rocketing in value by an average of £200,000 since 2010.
The Mirror’s investigation highlights the disparity between the 22 Cabinet MPs running the country, who between them hold property worth the price of 140 average homes, and the problems facing many people in terms of home-ownership, now at its lowest level for 25 years.
- Follow me @LondonlovesBiz and @Harry_Cockburn
- Try our free newsletter
Now read:
Britain has more billionaires than all but three countries
Leave a Comment