London property prices 'to tick back up'

Posted: 29 Jun 2009 10:25:04 GMT

House prices in central London are set to head in an upward direction over the coming months, according to one expert.

The chief executive at property group London Central Portfolio, Naomi Heaton, has claimed that prices "will undoubtedly start to tick back up" in the near future and many homebuyers and investors are worried they may have missed the bottom of the market.

She suggested that any 20 per cent reduction on peak prices can only be taken advantage of "with a successful transaction".

"Those entering the market in recent months have been ahead of trend and it often transpires that the early bird gets the worm," Ms Heaton explained.

Her comments come soon after Knight Frank published a study showing average prime central London property prices inflated 1.6 per cent last month, which followed a 0.4 per cent boost in values during April.


© Houseladder Ltd