House prices rise in London to divide a nation of 'haves and have-nots' – Telegraph Blogs

House prices rise in London to divide a nation of 'haves and have-nots' – Telegraph Blogs

One terraced house in Camden changed hands for an eye-stretching £19m last month and the average price of property excluding flats in the City of Westminster hit a new record of £2.4m, according to new analysis of Land Registry tax receipts.

LSL Property Services – owners of estate agents Your Move and Reeds Rains – and University of Cambridge statisticians Acadametrics’ national ‘index of house price indices’ shows an increasingly divided nation of haves and have-nots.

Foreign investors continue to be attracted to the capital by sterling’s weakness and recent reductions in mortgage rates stimulated renewed demand for more expensive properties. This combination pushed average prices in London 1.6pc higher in August, compared to a 2.2pc fall across the country as a whole.