9 Dec

London house prices tipped to perform differently

London house prices tipped to perform differently

London's house prices have been projected as performing differently to the rest of the UK housing market.

Research by real estate firm Jones Lang LaSalle has concluded that the capital will see house prices fall faster than in the rest of the country next year, but start rising again sooner.

It forecast the UK rate of decline to be 13 to 15 per cent in 2009, whereas London will be 15 to 17 per cent.

The projection for 2010 is for prices to start stabilising, with London seeing values rising again by the end of that year.

Across the UK as a whole, prices will be rising by an annual rate of nine per cent by 2012-13.

Such a trend could help those keen to buy property in London.

During the last few months London has lagged behind the rest of the country for house price decline, which may mean it is about to come into line with the rest of the UK.

Land Registry figures for the last 12 months show that values there dropped 8.6 per cent, less than any other region of England and Wales.
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