6
Jan
Prime London property will see "modest growth"
Prime
property for sale in London will see modest growth over the
next year, as predictions show that the value of houses in the
capital will continue to edge up, defying the economic crisis once
again.
At the end of December, the Land Registry reported that prices for
London property had risen again in November. It also said that the
only region in the whole of England and Wales which had seen a rise
in property prices over the whole of 2011 was London, with an
increase of 1.4 per cent.
Lucian Cook, director of residential research at Savills, said that
this trend was most likely to increase slightly in 2012, as
property will see a further modest level of growth throughout thw
next 12 months.
"We are forecasting in prime central London that we will actually
see some very modest growth in the market. That is largely on the
back of a continuation of overseas wealth coming into those
markets," he noted.