This presents Londoners with a unique situation, their homes are worth more than ever, but they are also facing higher taxes than any time in history.
The solution to this is either wage increases that will help them to absorb the new fees, or lower costs of living that would have the same effect.
While some bloggers have noted that these costs are about the same as one would find and other pigeonholed in areas in Asia like Singapore, the differences that UK residents are taxed at a much higher rate than those in the East .
Could it be that London is now facing another property bubble as cash rich buyers and foreigners come in to park their money , drive up prices , making it increasingly difficult for locals to afford homes that are, quite frankly, nothing spectacular .
To what extent central-bank policies might contribute to the problem, remains to be seen , but without a doubt the people of London will be watching eagerly.