London estate agent Foxtons returns to market as house prices soar

London estate agent has announced that it will return to market, after being purchased six years ago for £360m. Now it hopes to raise £55m as it goes public (release).

Now for sale itself, the firm will seek to rid itself of debts as the property market swells. Nowhere else is the surge in UK house prices as apparent as in London.

Prices in the capital shot up 6.2 per cent in the year to April, and 1.4 per cent in the last month, according to Land registry figures published yesterday.

The rise in London prices compares with a national increase of 0.7 per cent on the year, taking average prices to £161,458, and fall of 5.7 per cent in the north east.

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