6 May

House prices in central London 'on the rise'

House prices in central London 'on the rise'

Property for sale in London is proving a hit with buyers at present, it has been revealed.

In its latest index, Knight Frank stated that the price of homes in the centre of the capital rose by 1.3 per cent last month.

Also, sales volumes year-on-year were up by 18 per cent.

Responding to the findings, head of residential research at the firm Liam Bailey said: "The prime London market recovery has continued into its second year, with prices rising continually for 13 straight months."

Demand has been strong from abroad, he noted, with German, Indian, Pakistani and Greek buyers all seeking homes in the city.

However, Mr Bailey noted that the election campaign has slowed the market somewhat because of the uncertainty it has created.

Recently, Nationwide revealed that the annual rate of house price inflation in April was 10.5 per cent, with the average home said to be worth around £167,802.
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