Looking to buy into the fastest, price-rising area in the United Kingdom? According to the latest Chesterton Humberts/CEBR House Price ‘Poll of Polls’, London prices are growing at twice the pace of those anywhere else in the UK. Nationally, the average house price slipped by 0.1 per cent to £176,898 last month; in London, houses prices rose by 0.7 per cent through March to take the average house price there to £330,804. Over the year so far, house prices in London have risen by 11.5 per cent which is an increase of £34,223 in all. However, prices in the capital are still some 6.2 per cent below their peak set just two years ago.
Robert Bartlett, Chesterton Humberts’ CEO, comments, “The March Poll of Polls continues to highlight how property prices in London are recovering more rapidly than any other region in the UK. To date this has been largely due to the depreciation of sterling which has caused an increase in foreign demand for property in the capital. However, the reappearance of City bonuses, a large percentage of which has traditionally been spent on property, along with continuing international demand, will increase pressure on house prices in London, adding to the divergence in property market recovery in the north and south of England.”
London is the place to be – always has been, always will.
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