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Commercial Property News
London property price rises 'set to continue'
Recent increases in the price of central London property will continue this year.
This is the opinion of London Central Portfolio chief executive Naomi Heaton, who stated that further rises can be expected in the residential sector due to the fact that prices in the centre of the capital are "well below anticipated levels based on its historical average".
She noted that the residential market in London began its recovery in the second quarter of last year, with the "low cost of sterling" and "increasing appeal" of the capital likely to help values to continue their recovery, along with the increasing availability of cheap debt.
Ms Heaton explained that if prices mirror long-term trends, they will double again by 2016, meaning the average value of flats and houses will be £1.25 million by the time the Olympic Games take place in 2012.
She was commenting after Primelocation.com said earlier this week that the number of prime properties coming onto the market in the first few months of 2010 will increase.
This is the opinion of London Central Portfolio chief executive Naomi Heaton, who stated that further rises can be expected in the residential sector due to the fact that prices in the centre of the capital are "well below anticipated levels based on its historical average".
She noted that the residential market in London began its recovery in the second quarter of last year, with the "low cost of sterling" and "increasing appeal" of the capital likely to help values to continue their recovery, along with the increasing availability of cheap debt.
Ms Heaton explained that if prices mirror long-term trends, they will double again by 2016, meaning the average value of flats and houses will be £1.25 million by the time the Olympic Games take place in 2012.
She was commenting after Primelocation.com said earlier this week that the number of prime properties coming onto the market in the first few months of 2010 will increase.
Fri, 8th Jan 2010