28 Jun

Property for sale in Brixton set for further price rises?

Property for sale in Brixton set for further price rises?

Homeowners with property for sale in Brixton and other areas across south-west London have seen prices rise by 4.8 per cent over the last year, new figures show.

Since January, the value of prime homes in the south-west of the capital increased by 3.5 per cent, according to Savills, but unlike other parts of London this region is dominated by domestic rather than international buyers.

Compared to other regions of the UK, London is expected to see fairly impressive price growth this year.

Savills has revised its values forecast up to eight per cent for the capital, while it has revised down prime regional values by three per cent.

Head of the property adviser's research team, Yolande Barnes, explained: "Prices in prime central London are being propelled by international equity, while displaced domestic wealth is pushing up values beyond the centre, most notably through the prime south-west London wealth belt."

Recent research by the Office for National Statistics suggested that south-west London is particularly popular among short-term migrants.

Southwark, Wandsworth and Westminister councils were among the local authorities with the highest short-term migrations estimates for 2007, potentially boosting demand for apartments to rent in Brixton.ADNFCR-1222-ID-800602235-ADNFCR

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