Prices in London jumped by €58,000 per month

Prices in London jumped by €58,000 per month

Price increase by more than 10% at a time is a sign of unsustainable growth. Prices for Moscow real estate increased by €58,000 in just one month, which negates the effectiveness of the scheme in the acquisition of property, introduced by George Osborne, said ee24.com citing theguardian.com.

In October, the average cost of capital property is €638,000 compared to €580,000 in September. In other parts of England and Wales, the increase was much more modest 2.8% to €296,027. Prices rose everywhere except the West Midlands.

The rise in prices follows the traditional summer slowdown in English market. So, in August and September, prices fell by 2.8% and 1.5%, respectively.