London property price rises 'set to continue'
Recent increases seen in central London property prices are set to continue in 2010, it has been claimed.
Naomi Heaton, chief executive of London Central Portfolio, said the residential housing market in the centre of London began its recovery in the second quarter of 2009 and this trend looks to be continuing into the new year.
She explained the low cost of the pound, teamed with cheap debt and the capital's increasing appeal will fuel this recovery.
"If prices follow long-term trends and double again by 2016 this would represent, on average, annual growth of 11.5 per cent with the value of all property - flats and houses - being £1.25 million by 2012 when London hosts the Olympics," Ms Heaton stated.
With property prices rising in the capital, Britons may wish to consider flats to rent in Fulham as a more affordable option than buying.
Meanwhile, Zoopla.co.uk recently reported 81 per cent of homeowners believe UK property values will rise over the next six months.
Written by Martyn Glynn
Published 8th January, 2010
© 2010 Estates IT Limited
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