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London property prices 'will continue to rise'
Posted by Mark Cunningham
Consumers looking to sell a home in London in the near future may be able to command a higher price for their property than in the past, an expert has suggested.
According to Hugh Best, head of investment management at London Central Portfolio, the cost of dwellings in the centre of the capital city is set to rise rapidly over the coming years, despite the ongoing effects of the global economic downturn.
Mr Best explained that this sector of the UK property market is showing signs of recording annual price growth in excess of its long-term trend and noted this will be the case for the next five or six years.
"We look in long-term cycles and we expect the market to be back on long-term trend by 2016 or 2017," he noted.
Research published by Knight Frank last week (July 1st) showed that prime London property prices have grown by 8.3 per cent over the last 12 months.
08/07/2011 15:15
News category: Property