Online House Hunter: Capital gains | Alan Cleaver | Independent Property Blogs
LUCKY London – if you’re the owner of property there. While the rest of the country is seeing ‘get real’ adjustments and a fall in house prices, London is seeing a rise.
The latest Land Registry figures may lag a month behind most other surveys but they are perceived as more reliable and confirm a growing boom in the London housing market.
In May, London house prices rose by 0.2 per cent month-on-month and by 2.9 per cent on last year. But London’s a big place and you’re only sitting pretty if you’re in the right borough.
Islington saw an 8.5 per cent annual rise in prices. That’s a figure that hasn’t been seen since the heady days of 2007 when even the most incompetent DIY-er was making a hash of some period property on TV but still walking off with profits in the tens of thousands.
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