Central London property 'performing well as long-term investment'

Posted: 25 Jan 2010 10:25:39 GMT

Investing in central London property could prove to be a wise choice for those hoping to see their assets perform well in the long-term, one expert states.

Naomi Heaton, chief executive of London Central Portfolio, says that despite the economic downturn, properties in the capital city have fared better than other asset classes due to their "appeal and desirability".

Her comments come in response to recent statistics from Primelocation.com, which reveal that prime property prices have risen by 3.8 per cent in January compared to the same month last year.

Ms Heaton goes on to advise that she expects the value of homes in Britain's capital city to continue to rise.

"Residential property in London central has performed very well as a long-term investment and has many drivers in play now to sustain it, not least its scarcity and the weakness of sterling," she comments.

According to the most recent statistics, the average cost of a prime property in London currently stands at £450,633.

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