The value of prime property in central London shot up by 13 per cent in 2011.This is according to the latest Knight Frank Prime London Sales Index, which states that homes in the area are now at the their highest ever levels.
Properties priced between £2.5 million and £5 million saw the largest growth, increasing by 16 per cent on average, while those valued over £10 million increased by 12 per cent.The average prime property in central London is now worth around £3.19 million and has seen a value increase equivalent to £1,202 each day over the past 12 months.
Sales numbers have increased by 17 per cent year-on-year, but this is largely due to high take up of properties at £5 million or less, which are up by an incredible 20 per cent.It is widely believed that funds from cash-rich investors from overseas is helping to drive up the luxury homes market in the capital.
London Property Market News
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