Prime central London prices still rising

Prime central London prices still rising

Property prices in the prime central London residential market saw further increases this month and are now 51% up since the low points of March 2008, the latest index shows.

The strongest markets in central London have been those areas located around Hyde Park, with higher than average price growth recorded in Knightsbridge, Hyde Park, Marylebone and Belgravia over the past 12 months.

Bailey pointed out that London’s market performance continues to be aided by overseas buyers, who account for 41% of buyers in the 1 000 000 pound sterling plus prime London sector, and more than 50% of buyers in the 2 000 000 pound sterling plus market.

This overseas demand is driven by Russian, Indian, Italian, US and French buyers, added Bailey, reflecting the diversity of the market.

 

Source: http://www.propertywire.com/news/europe/prime-central-london-september-201209266978.html