Do we need a land tax to tame foreign investment?

Michelle McGagh
Hampstead mansion
Hampstead mansion

Bishops Avenue in the affluent north London suburb of Hampstead used to be known as 'Millionaires' Row' but thanks to house price inflation it's now become 'Billionaires' Row'.

The owners are now so wealthy that they no longer bother living in the properties and the expensive street is now tarnished with £350 million worth of rotting, derelict properties.