Mar 3, 2011

Investors in London 'will see rising prices'

Investors in high end property sales and rentals in London are likely to note an upward fluctuation in house prices this year.
According to Naomi Heaton, chief executive at London Central Portfolio, homebuyers could benefit from investing the capital.
"Whilst prices in London central have increased by around ten per cent in 2010, they are not far ahead of where they were pre-credit crunch. Over the last 40 years, the average growth rate has been 8.5 per cent per annum. As such, there are two years of lost growth to make up on top of the annual average," she noted.
"London central is also continuing to attract investors due to the continued weakness of sterling and the enduring appeal of the capital," Ms Heaton explained.
Her comments come after the latest figures from Knight Frank show prime London property prices rose by one per cent in February 2011, which helped drive annual growth to eight per cent.

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