28 Mar

Property for sale in London continues price growth

Property for sale in London continues price growth

Property for sale in London has recorded its sixth consecutive quarter of growth, according to research by Savills.

The company's quarterly prime central London index has revealed that the value of flats and houses for sale has risen by 2.8 per cent since the start of 2011.

High-end houses for sale in London were the most sought-after, with Savills reporting that transactions in the first three months of the year averaged at £5 million.

Houses outperformed flats for sale in London, said to be a result of wealthy overseas buyers bringing foreign equity into the city.

Yolande Barnes, head of Savills research, said: "The level of price growth seen in the first quarter was unexpected and our forecast for 2011 of one per cent price falls across prime central London now looks bearish."

Property for sale in prime central London is seen as a "gold standard asset", she added.

The London letting market also remains strong, with flats to rent in London's W1 district experiencing high demand, according to Knight Frank.ADNFCR-1222-ID-800478623-ADNFCR

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