PRIME CENTRAL London residential house prices will grow by six per cent this year in stark contrast to the rest of the UK, new research from CBRE shows.
The property specialist said average house prices in London’s top postcodes have grown by 35 per cent over the last three years and are now 16 per cent above their 2007 peak.
Mark Collins, CBRE’s head of residential said growth is likely to continue “as the lack of developable land means supply will almost never satisfy demand.”
Prime homes in London typically attract between £1,500 and £2,500 per square feet while super prime properties sell for more than £3,000 per sq ft. This can only be matched by Monaco and Hong-Kong.