Property in London 'continues to be attractive'

Posted: 26 Apr 2010 10:36:07 GMT

Property in London is continuing to be a particularly popular option for homeowners and investors alike, one expert has noted.

Naomi Heaton, chief executive of London Central Property Portfolio, says the city benefits from an "undeniable global appeal", as well as long-term capital growth prospects.

"Residential property in London central is also likely to benefit this summer from the stamp duty stampede as investors look to acquire prime property before stamp duty increases," she states.

Ms Heaton's comments come as new figures from Knight Frank reveal that prime property sales in London are at their highest level since the previous peak of the market in 2007.

Sales of homes costing more than £2 million have increased by 83 per cent in the past 12 months, according to the statistics.

The rental sector in the capital is also performing well, as Cluttons recently reported the average prime central London property's rental value rose by 3.1 per cent during the first quarter of 2010.

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