6 Jan

Prime London property will see "modest growth"

Prime London property will see "modest growth"

Prime property for sale in London will see modest growth over the next year, as predictions show that the value of houses in the capital will continue to edge up, defying the economic crisis once again.

At the end of December, the Land Registry reported that prices for London property had risen again in November. It also said that the only region in the whole of England and Wales which had seen a rise in property prices over the whole of 2011 was London, with an increase of 1.4 per cent.

Lucian Cook, director of residential research at Savills, said that this trend was most likely to increase slightly in 2012, as property will see a further modest level of growth throughout thw next 12 months.

"We are forecasting in prime central London that we will actually see some very modest growth in the market. That is largely on the back of a continuation of overseas wealth coming into those markets," he noted.ADNFCR-1222-ID-801257773-ADNFCR

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