Top London property soars
The best properties in Central London have risen by as much as a third in the past year, new research has found.


Prime Central London property has broken records again, rising by 33.3%in the past twelve months, according to the latest Knight Frank report. Their research found this is the fastest rate of growth in the capital since 1979 and means that prices in central London are now rising faster than the wider UK market by almost three times, with Belgravia and Knightsbridge leading the way. Evidence of this becomes obvious when prices per square foot are examined: exceptional London properties are now hitting £3,000 per sq ft, while Knight Frank says some are even breaking through the £4,000 per sq ft barrier; prices unmatched in the rest of the world. Only Monaco is able to compete with London in these terms, the report claims, with prices of £2,190 per sq ft; New York, Hong Kong and Tokyo follow on at £1,600,£1,230 and £1,100 per sq ft respectively. However, prime property in London cannot continue this relentless growth forever, and Knight Frank predicts that the heat will come out of the market in coming months: ?Our date reveals some indications that the market may well be close to its peak in London. A slight shift in demand and supply appears to be beginning which, if it continues, will begin to see a move away from a sellers to a buyers market. We believe that price growth will begin to become more subdued by late summer, but we still think that central London prices for property priced over £3m will grow by 20% in 2007,? said Liam Bailey, Knight Frank?s head of residential research.
Sign up for the Country Life Newsletter
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
-
Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curves
Amid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
-
Polluting water executives now face up to two years in prison, but will the new laws make much of a difference?
The Government has announced that water company executives caught covering up illegal sewage spills could now be imprisoned for two years, under new laws — but many still have their doubts.