Grow­ing fears of bub­ble in Lon­don

Yorkshire Post - Property - - PROPERTY -

LON­DON’S prop­erty mar­ket con­tin­ues to ex­pand into bub­ble ter­ri­tory at an alarm­ing rate, ac­cord­ing to Home.co.uk.

The web­site re­vealed that the av­er­age ask­ing price of a home in Lon­don has bro­ken through the £400,000 bar­rier for the first time.

An 11.7 per cent an­nual rise has brought the av­er­age price to £400,096, with re­lent­less de­mand to live and in­vest in the re­gion driv­ing prices 15.3 per cent higher than when the fi­nan­cial cri­sis struck five years ago.

Home.co.uk di­rec­tor Doug Shep­hard said: “Soar­ing prices may well be wel­come news for home own­ers who see their eq­uity grow­ing, but, on the flip side, they are highly trou­bling for po­ten­tial buy­ers.”

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