All Real Estate:Posh Property in London Now More Expensive
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Luxury London Property
High End Luxury Prime Property in London is going up and up despite the threat of higher unemployment and a British property market in recovery. Luxury house prices in central London rose for the fifth consecutive month in August, according to the latest Knight Frank Prime Central London Residential Index.
“”The combination of rising prices and increasing confidence in the central London market has had a dramatic impact on the number of sales which have taken place. Sales volumes are up 90% since January 2008 and represent an incredible 234% increase in sales volumes compared to August last year,” said Liam Bailey, head of residential research for Knight Frank.
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Nice Blog.
This is really surprising considering the current state of the economy.
House prices in London have risen 11.5% since April 2009, which is amongst the strongest in the UK. It will be interesting to see if London property prices increase to the kind of prices from 2 years ago.