Prime London Prices Continue to Rise 16 06 2007 - News Archive

Prime London Prices Continue to Rise

Property prices for prime London properties have risen in the past 12 months at a rate in excess of other UK property.
According to the Knight Frank Prime Central London Index, high end properties in the capital rose by an average of 33.3% in the past 12 months, led by exceptionally wealthy areas such as Knightsbridge.
These rises place Prime Central London at the head of the global property price league, with prices now standing at a huge £2,300 per square foot.
There are however signs that this momentum is slowing due to a reduction in demand. Figures from Knight Frank show a recent 30% reduction in the number of potential buyers registering an interest in Prime Central London property. Should this continue then it should have a natural slowing effect on the rises in this sector.
 
:: Added on: 16:06:2007 ::

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