21
Dec
Property prices in central London 'will rise next year'
Property prices in central London will return to pre-recession
levels next year, an industry expert has claimed.
Naomi Heaton, chief executive officer at London Central Portfolio,
stated that she is confident that prices in the region will
continue to rise next year and will even reach pre-credit crunch
levels.
"Even if there are peaks and troughs, even if there is a double-dip
next year, prices in central London will [in the] long term go up,"
she asserted.
Ms Heaton explained that the property market in England's capital
is "robust" and that while values dropped last year, the falls were
moderate.
According to figures released by the Land Registry in November, the
average property price in London increased by 1.4 per cent in
October and currently stands at £317,601.
This data represented the sixth consecutive monthly increase in
values in the region, although prices are still 0.2 per cent lower
year-on-year.