22 Mar

High-end property in London 'increasing in value'

High-end property in London 'increasing in value'

High-end property in London has risen in value, according to one firm.

The latest figures from Primelocation.com suggest that values in the most sought-after areas of the capital have increased by 2.4 per cent this month, MyIntroducer.com reports.

It was found that the average price of a home in prime central London has now topped £2.2 million.

Commenting on the figures, research director at the company Andrew Smith said that investors from both the UK and abroad are seeing that now is a good time to invest in real estate as the country is coming out of recession.

He added: "There is an excellent choice of property on the market - more than we have seen for over two years."

Interest rates are also low for those who need to borrow, Mr Smith went on to note.

Statistics produced recently by Communities and Local Government showed that the typical price of a home in London in January 2010 was £332,476.

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