London.

There is increasing evidence to support the hypothesis that London is a land locked island. One stark fact is that house prices in the capital are so far out of reach for the average punter to take a flutter, they are only now for the international super-rich. In The Observer yesterday Michael Goldfarb describes how whole parts of central London have been hollowed out as a enclave to these people. The delicate social ecosystem is changing very rapidly. London is also one of the international financial centres so big money is here. With the collapse of economies in the Euro-zone area like Greece, Italy and Spain the rich have deposited their riches into property. In addition there are other international property players from the Far East, Russia, America, France and Middle East. For them its a great investment they don't have to live here, but can rent out at guaranteed high prices. The rationale for coming to London is a relatively stable political landscape, plus the quality of life here - art galleries, museums, royal palaces, theatres, restaurants, public spaces etc. However the very system they value is being slowly eroded, by this influx of hot money, as the locals cannot afford to live in the centre. In his wonderful biography of London the matchless writer Peter Ackroyd descries its evolution over many centuries. Clearly that evolution is continuing.