House prices in London 'will settle'

Posted: 26 Oct 2009 12:16:30 GMT

The rise in house prices in central London will start to "settle down a tiny bit", according to Alex Thompson, director at the Notting Hill office of estate agent Winkworth.

He also claimed that it has been a surprise to see that, in some areas of the capital, property prices have crept back to the level they were at before global financial services firm Lehman Brothers collapsed last year.

Commenting on the general state of the property market, Mr Thompson had a number of positive things to say.

"There is an awful lot in the press going on about month-by-month increases, [but] in reality, as with any statistics, I think they are a month or two behind; they were already happening really in the beginning of the summer," he stated.

Both Nationwide Building Society and Halifax have reported rises in property prices in recent months.

Indexes from the financial services providers show that the value of the average UK home has increased for the last three consecutive months.

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