26 Feb

London property prices to enjoy strong rise

London property prices to enjoy strong rise

Demand from overseas will continue to drive up prices in the capital city, according to a new poll from Reuters.

The 27 economists and experts involved in the survey believe that house prices could increase by seven per cent this year as more buyers aim to secure a new home before interest rates start to increase.

In London there has been a growth in the number of people looking to invest but a shortage of homes coming on to the market is driving up asking prices.

"London house-price growth is completely out of step with the rest of Britain. This dichotomy is likely to continue for the next year or so before expectations return to more sustainable levels," said Gary Styles at GPS Economics.

However, estate and letting agents across the UK will welcome recent figures from Rightmove that showed asking prices were 6.9 per cent higher in the four weeks to February 8th compared to the same period in 2013.ADNFCR-1222-ID-801698157-ADNFCR

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