London 'sees strongest house price growth'
property prices in London demonstrated the strongest levels of growth in the whole on the UK during the final financial quarter of last year, new research has found.
According to Nationwide, southern regions of the UK continued to demonstrate increased growth over northern parts of the country.
And the area revealed to be the most expensive when it came to buying property was London, with the city also the region with the strongest annual price change.
Commenting on the news, Martin Gahbauer, Nationwide's chief economist, said: "Greater London was the best performing region in the quarter; prices rose by a seasonally adjusted 3.4 per cent. This increase pushed the annual rate of change up from minus 1.9 per cent to 7.0 per cent, making London the best performing region over 2009."
Such news may prompt Britons to consider flats to rent in Notting Hill, or another part of the capital, as this could be more affordable than buying.
The Land Registry recently revealed house prices continued to grow during November 2009.
Written by Andy Britten
Published 4th January, 2010
© 2010 Estates IT Limited
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Over the course of the final quarter of 2009, the capital witnessed the strongest UK growth in house prices, which may prompt Britons to consider flats to rent in London, rather than taking on a mortgage.