That London’s house prices are booming is hardly a secret – prices shot up by 12 per cent in 2013, according to official figures.
But what isn’t as well known is that the boom in London is in fact taking place even within a booming UK.
The British market overall might not seem so buoyant. Its prices increased by 5.5 per cent over the year, healthy but pretty mild compared with the capital’s soaring values.
But that is to miss out the bigger picture.
Across much of Europe, house prices are diving.
The Eurozone’s average prices fell 1.4 per cent last year, with Italian prices plunging 4.8 per cent and Cyprus’ down 9.4 per cent.
By contrast prices are growing in every British region, even Northern Ireland which saw the most severe crash.