9 Feb

London property prices to rise in 2012

London property prices to rise in 2012

Those with property for sale in London will be facing a fine year in 2012, as it is expected that the price of housing in the city will increase.

Any increase is likely to be fuelled, according to Central London Portfolio, by the fact that investors who currently have these properties do not want to sell, while more are looking to come in to take advantage of the prime location.

The fact that demand will be far higher than supply is likely then to drive prices ever higher.

Naomi Heaton, chief executive of the company, said of investors viewing a favourable market: "They will therefore hang on to their real estate holdings. Meanwhile, investors outside the magic circle will be seeking to get in, increasing demand and an upward pressure on prices."

Any increase would be a continuation of the trend started in January, when the prices for property in London rose by 0.9 per cent, according to Knight Frank.ADNFCR-1222-ID-801289088-ADNFCR

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