Central London house prices have gone up a phenomenal 23.5%, the highest recorded rate of growth since June 1997.
Last month estate agents Knight Frank wondered whether the London boom was running out of steam, September's figures would suggest not.
House prices did slow down in the summer. However, it lasted just a month, with August's 1% rise replaced by September's 2.2% rise.
There has been astonishing performance in London's smartest quarters. The simple explanation is that there are many wealthy people from all over the world who wish to purchase a prime location property in London. And alas there are not enough homes to go round.
September has been fantastic for the prime London market. Buyers are flocking back. 111% more buyers have registered to buy property in London than the same period in 1996, according to Knight Frank.
Properties £4m+ have also generated much interested and these rose in value by 4.2% in September.
Demand for such properties has increased especially from foreign property investors .
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London Prices are Booming
Tue, 10 Oct 2006
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