7 Jul

Poll reveals London house price growth

Poll reveals London house price growth

A new Poll of Polls by Chesterton has found that house prices in London grew by 6.4 per cent in the year to June 2008.

The Centre for Economics and Business Research (CEBR) compiled the data, which showed that property values in England and Wales were 1.3 per cent higher in June than at the same time in 2007, despite ten consecutive months of falls.

Overall, house prices fell by 0.8 per cent across the two areas between May and June, but in the capital they only decreased by 0.2 per cent.

In addition, 19 of the UK's 20 most expensive locations are in London and 16 of its 32 boroughs have seen monthly price increases.

Douglas Williams, chief executive of CEBR, said: "This month's findings describe a housing market where prices are drifting downward rather than in freefall."

Recently Russell Jervis, the managing director of Haart, suggested that the London property market is beginning to stabilise.

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