Central London house prices are 26% higher than before. You can market your home in Central London for seven figures and still have buyers outbidding each other for the privilege of owning it.
Prices rose by a grand 2.8% in November ensuring that November was the ninth month in which house prices grew more than 2% since the beginning of the year.
Key central London area house prices like Kensington and Chelsea, Knightsbridge, Mayfair, St John's Wood, Regents Park, Notting Hill, Belgravia and the riverside are 27% higher than 2005. This is the highest annual growth rate since June 1988.
Knight Frank director commented that there has been sharp growth in demand, with a sharp downturn in supply.
Market conditions have pushed prices ahead of the highest growth rate for 18 years, with prices 27% higher than November 2005.
Billions in City bonuses have had a key impact on the London market.
In 2005 £7bn was awarded in bonuses in London, lifting the the housing market.
This would signify that London is unlikely to experience any downturn in terms of the housing market.
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London Houses 26 Per Cent Higher Thu, 14 Dec 2006
     Recommended linksLondon House Prices Have Risen 50 per cent during 2006Average London House Price £400,000 London House Prices Are The Highest in the Country House Prices are Still Soaring Apply for A Mortgage |
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