23 Apr

London property up by 30%

London property up by 30%

Property prices in the capital have risen by almost 30 per cent over the past year, according to new figures.

Data from haart estate agents shows a 29.5 per cent increase during the last 12 months, while house prices across the UK have risen by 7.4 per cent during the same period.

The growth in demand means the average home in London costs £473,000, compared to £195,511 across the other regions of the country.

Paul Smith, chief executive officer of haart, explained that domestic and overseas interest is helping to increase pressure on prices.

He added: "London is now a country of its own in property market terms.

"People know that there is no more lucrative place in the world to invest your money and see outstanding returns."

Spring is traditionally a busy time for estate agents and letting agencies as the number of people looking to move home begins to pick up following the quieter winter months.ADNFCR-1222-ID-801714390-ADNFCR

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