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Continued Central London Price Growth Realistic
Further price growth in central London properties is an "entirely realistic" prospect, says London Central Portfolio, which could be encouraging news for those looking for a sound property investment.
Late last month, Knight Frank said the prices of prime London property rose by 0.9 per cent during August, contributing towards an annual growth of 10.5 per cent.
Prices in the capital have now risen by 36.3 per cent since the post-credit crunch low of March 2009, and stand at 3.8 per cent higher than the previous peak in March 2008.
Naomi Heaton, chief executive at London Central Portfolio, advised property investment professionals that the "mainstream" sector of London central, such as flats and maisonettes, has shown a considerably more robust performance.
"Our opinion has always been that the market had not over-inflated prior to the credit crunch, but was in line with long-term growth projections following a slow start to the millennium," she added.
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Article date: 9/6/2011 12:00:00 AM