As part of a research programme investigating illicit financial flows in London’s housing market, researchers at Transparency International approached Pro Bono Economics for economic advice on available data about the rise in London house prices.
London house prices have rapidly increased over the past decade, relative to elsewhere in the UK. Transparency International is investigating assertions that it is not just because of higher average earnings in London, but because the city has become a haven for corrupt capital stolen from around the world, facilitated by the laws which allow UK property to be bought by secret offshore companies.
Pro Bono Economics matched Transparency International with Professor Paul Barnes, a freelance consultant and academic specialising in fraud and risk management.
To support TI’s research, Paul prepared a short report which outlined nationally available data on rising house prices in the capital. He provided economic rationale and assumptions on how researchers at TI might make a causal link between rapidly rising house prices and corrupt money.
TI will be using this report as part of their conversations with the academic community
We would like to thank Professor Paul Barnes for his hard work on this report, and excellent advice to Transparency International.