According to the latest survey, properties within parts of London have seen an "astonishing" increase in price throughout March.
Knight Frank, estate agent, said that during March luxury properties increased in value by 3.1% per month.
The estate agent says that the monthly price increase means that there is a yearly boost of 32%.
In Knight Frank's monthly study, it shows that houses are valued more then £3 million and flats from various areas within London valued at more then £1.5million.
"Among the best performing areas are Chelsea and St John's Wood, where both houses and flats have been performing strongly," mentioned Liam Bailey, the firm's head of residential research.
He added, "Massive supply shortages and overseas demand were driving the growth, with the number of available properties falling by 27 per cent in March."
"As City bonus money filters out of the market, continued strong price performance can be explained by supply shortages and ongoing international demand," Mr Bailey continued.
Property prices for Knight Frank's Central London index have increased repeatedly for 27 months.
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Astonishing house price increases in London Wed, 11 Apr 2007
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