29
Jun
Prime London property growth is logical
The consistent growth of the UK property market in London in
particular is logical, according to one expert, after it was
reported that prime values have continued to rise.
According to Savills, the price of prime residential property in
the capital grew by 0.9 per cent in the second quarter of
2012.
Liam Bailey, head of residential research at Knight Frank, said
that this is only logical because of the economy in the
capital.
"London has certainly done better than everywhere else over the
last two or three years and I think that the main driver has really
been the fact that London's economy has improved much more quickly
than the rest of the country."
He went on to say that London is far more resilient than the rest
of the UK, which has worked in its favour over recent periods, a
trend that he said is likely to continue in the coming
months.