The average sale price in prime central London between June and August 2014 was £4.7 million, up from £3.7 million in the preceding three-month period.
Tagged – ‘London prices’
As macro-economic risks recede, fewer foreign buyers are seeking the “safe-haven” appeal of London property.
Sales and rentals data in May 2014 suggests a reversal of fortunes is on the horizon in prime central London.
January’s residential market update has all the latest on the housing market across the UK assessing its recent performance and providing an analysis of the latest economic developments.
Prime central London residential property prices increased by 0.6% in October and have increased by 6.2% over the first ten months of 2013.
Just 28% of all £1m+ sales in prime central London over the 12 months to June 2013 were to buyers not resident in the UK, according to Knight Frank’s detailed analysis of international purchase activity in the city.
Rents in prime central London fell by 0.7% during the third quarter of 2013, taking the decline in rents so far this year to 1.2%, according to Knight Frank’s Prime Central London Rental Index.
House prices in prime central London increased by 0.7% in September, and have risen by 1.7% over the past quarter, according to Knight Frank’s Prime Central London Sales Index.
Annual price growth for properties in Greater London is now outstripping prime central London, boosted by the city’s continued economic recovery and government policy.
Prime central London property prices continued to rise in August, but there are indications that buyers are becoming more resistant to continued price rises, especially at the top of the market.