29 Jun

Prime London property growth is logical

Prime London property growth is logical

The consistent growth of the UK property market in London in particular is logical, according to one expert, after it was reported that prime values have continued to rise.

According to Savills, the price of prime residential property in the capital grew by 0.9 per cent in the second quarter of 2012.

Liam Bailey, head of residential research at Knight Frank, said that this is only logical because of the economy in the capital.

"London has certainly done better than everywhere else over the last two or three years and I think that the main driver has really been the fact that London's economy has improved much more quickly than the rest of the country."

He went on to say that London is far more resilient than the rest of the UK, which has worked in its favour over recent periods, a trend that he said is likely to continue in the coming months.ADNFCR-1222-ID-801397568-ADNFCR

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