London property prices shooting up through tight supply - News - The Docklands
Bucking the trend for much of the UK, Knight Frank’s Prime Central London Index says recent increases have led to annual growth of 10.3 per cent in the 12 months to January.
Prices are now 26.9 per cent higher than March 2009 and just 3.4 per cent beneath their all-time peak reached in March 2008.
Liam Bailey, head of residential research at Knight Frank, said: “Demand for property has been strong, applicant volumes were 13 per cent higher in the three months to January compared to the same period a year earlier.
“The real drivers of this demand have been overseas buyers, especially Europeans, and also City based buyers, who have been more numerous than expected given the uncertain discussions over bonus levels.
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