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London Property Market News: Prime London property values rose by 13 per cent this year
The value of prime property in central London shot up by 13 per cent in 2011.
This is according to the latest Knight Frank Prime London Sales Index, which states that homes in the area are now at the their highest ever levels.
Properties priced between £2.5 million and £5 million saw the largest growth, increasing by 16 per cent on average, while those valued over £10 million increased by 12 per cent.
The average prime property in central London is now worth around £3.19 million and has seen a value increase equivalent to £1,202 each day over the past 12 months.
Sales numbers have increased by 17 per cent year-on-year, but this is largely due to high take up of properties at £5 million or less, which are up by an incredible 20 per cent.
It is widely believed that funds from cash-rich investors from overseas is helping to drive up the luxury homes market in the capital.
First Time Property Buyers News: 90 per cent...
A larger variety of 90 per cent LTV mortgages are available....
London Commercial Property News: Commercial development activity rises...
Commercial property development on the rise....
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Brits like to live near a good pub, a study has found....
First Time Property Buyers News: High LTV mortgages...
First time buyers should keep a close eye on the mortgage market....
Landlord and Tenant News: Landlords positive about buy...
Landlords are positive about the buy to let market's outlook....
Landlord and Tenant News: Landlords advised to carry...
Landlords are advised to carry out pre-tenancy screenings....
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