Affluent London booming
According to Knight Frank's latest house price index for prime central London, annual house price growth reached 31% in February.
Inflation was strong over the previous six months with a 16.3% increase in prices. February saw a monthly price rise of 2.6%.
Conditions in London's most affluent neighbourhoods remain tight thanks to ever-rising levels of demand and decreasing levels of new property coming onto the market. While city bonuses provided a major cash injection into the market, Knight Frank believes growing overseas interest has had a significant role to play in levels of demand. In particular, they attribute the massive house price growth in the exclusive SW postcodes of Belgravia, South Kensington and Chelsea to increasing demand from international buyers.
Inflation was strong over the previous six months with a 16.3% increase in prices. February saw a monthly price rise of 2.6%.
Conditions in London's most affluent neighbourhoods remain tight thanks to ever-rising levels of demand and decreasing levels of new property coming onto the market. While city bonuses provided a major cash injection into the market, Knight Frank believes growing overseas interest has had a significant role to play in levels of demand. In particular, they attribute the massive house price growth in the exclusive SW postcodes of Belgravia, South Kensington and Chelsea to increasing demand from international buyers.
posted by ew at
10:48 AM
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