Property prices in London will 'continue to rise'

Posted: 08 Jan 2010 10:14:24 GMT

Property prices in London will continue to rise, one expert has stated.

Naomi Heaton, chief executive of London Central Portfolio, says that people should be confident about the state of the capital's property market during the coming months.

She anticipates that the price of central London property will rise by an annual average of 11.5 per cent, with the value of all homes, flats and apartments in the area being £1.25 million by the time the city hosts the Olympics in 2012.

According to Ms Heaton, the housing market recovery is well underway in the nation's capital, having begun in the second quarter of 2009.

Recent statistics from Zoopla reveal that she could be correct in her predictions as national confidence in the housing market has now returned to pre-credit crunch levels.

Some 81 per cent of UK homeowners believe that the value of property will rise over the next six months by an average of 5.7 per cent.

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