London prices set to rise

Posted: 06 Dec 2007 10:59:21 GMT

Prime central London homeowners can expect to see the value of their properties increase by around five per cent in the new year.

Prime central London homeowners can expect to see the value of their properties increase by around five per cent in the new year.

That is according to global real estate service provider Savills, which says that the capital's property market remains robust.

It comes at a time when prices across the UK are said to be falling as the global credit crunch takes effect.

However, Savills points to the fact that London has not suffered losses on the same scale as other regions as a sign that the market is robust enough to remain positive in 2008.

"We're predicting growth in the prime central London market of about five per cent next year... To date, you haven't seen the reduction in prices or indeed the slowing in growth rates in London to anything like the same degree as some of the other areas in the country," said Lucian Cook from the firm.

"In fact, to date – ignoring some of the monthly statistics, because you can see month on month changes which can take your eye off the ball – [London] has been by far the most robust market," he continued.

The average UK house price was recorded as £194,895 in November, according to Halifax.

© Houseladder Ltd


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MORE UK PROPERTY NEWS: December 2007

Prices set to rise in transport hotspots  Posted: 31 Dec 2007 16:45:48 GMT
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Predictions of doom and gloom in 2008 are wide of the mark, according to one expert.

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The Royal Institution of Chartered Surveyors (Rics) believes that the base rate of interest will be cut to five per cent early next year.

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Landlords are benefiting from increased demand for rented accommodation.

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House prices to stabilise in 2008  Posted: 20 Dec 2007 11:08:06 GMT
The Royal Institution of Chartered Surveyors (Rics) believes that house prices will level out over 2008.

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Homeowners may find themselves in a far better financial position in 12 months' time.

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Landlords continue to benefit from high tenant demand and increasing rents.

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UK landlords remain confident about the future prospects of the sector.

1% house price rise next year  Posted: 17 Dec 2007 12:02:51 GMT
The average property price in the UK is set to rise by one per cent in 2008.

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The Council of Mortgage Lenders (CML) has slammed a report from Citizens Advice, which accused the sub-prime mortgage industry of acting irresponsibly.

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Prices rise and correction unlikely  Posted: 11 Dec 2007 11:53:11 GMT
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London prices set to rise  Posted: 06 Dec 2007 10:59:21 GMT
Prime central London homeowners can expect to see the value of their properties increase by around five per cent in the new year.

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Price rises anticipated in the new year  Posted: 04 Dec 2007 10:28:04 GMT
Homeowners have been told that they can expect to see the value of their properties increase in 2008.

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