Lon­don prop­erty prices in­crease

Yorkshire Post - Property - - PROPERTY -

PRICES of prime Lon­don prop­erty rose 0.9 per cent in June 2011, con­tribut­ing to an­nual growth of 8.3 per cent , ac­cord­ing to Knight Frank.

Prices have now risen 34 per cent since their re­cent post­credit crunch low in March 2009, reach­ing a record high 2 per cent above their pre­vi­ous peak in March 2008. De­mand is hold­ing steady as sup­ply looks set to surge and prices will con­tinue in­creas­ing, al­beit more slowly in the next few months. Knight Frank re­vised its fore­cast for prime cen­tral Lon­don price rises from 3 per cent to 9 per cent this year. Res­i­den­tial re­search head Liam Bai­ley said: “Price growth in the prime cen­tral Lon­don mar­ket con­tin­ued through June with a fur­ther 0.9 per cent rise in prices.”

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