19 Jun

Prime London property asking prices up

Prime London property asking prices up

The asking prices for prime London property increased in May, according to the latest research.

Primelocation.com reported that the average asking price for this type of home in the capital went up 0.27 per cent on April's figure.

This inflated the desired cost of the average prime London property by £3,591, the company stated.

Andrew Smith, Primelocation.com's head of research, said that this area of the housing market has seen values increase in five out of the last six months.

"Prices over the month rose in three of London's five sub-regions. North-west London (1.48 per cent) and south-west London (0.99 per cent) recorded the largest price rises," he explained.

Mr Smith also suggested that the prime market will be stimulated by landlords putting their prime rental properties on the market "in expectation of interest from cash-rich investors and genuine buyers with finance in place".

Indeed, Smartlandlord.co.uk managing director Keshav Thukaram recently advised landlords that there a number of bargains to be found on the current market.

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