Property to rent in West Hampstead may become popular as London prices soar
property prices in London are expected to outstrip growth of those in the rest of the UK, it is predicted.
This could cause greater interest in flats to rent in West Hampstead and other parts of the capital, as people find it hard to get onto the housing ladder.
New figures published by Estate Agent Savills demonstrate a growing north-south divide in terms of house prices and the company states in its 2011 forecast that Central London homes are expected to climb by 33 per cent compared with a national average of 12 per cent.
The London market is driven by international investment and the city's position as a global financial centre, with the capital expected to lead the UK's economic recovery, director of research at Savill's Lucian Cook explains.
According to the company, a double dip in house prices in unlikely and grade A prime London property values are likely to emerge from the economic downturn "virtually unscathed".
A recent study by Zoopla echoed the Savills prediction, indicating the capital saw an 11 per cent rise in the number of homes valued at £1 million or more in 2010.
Published 31st December, 2010
© 2010 Estates IT Limited
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