28/02/2008

London still top of its game as global city

The latest London residential development research report from estate agency Knight Frank, ‘Global City’, reveals that London’s super-prime market is set to continue to outperform all other UK markets through 2008, and that around 60% of all central London property purchases over £4m now made by foreign national. Housing demand from the foreign super-rich is anticipated to grow significantly in the next decade. Meanwhile, according to Knight Frank’s latest figures, January saw prime central London property prices grow by 1.1%; the highest monthly rate since the credit crunch began to build in September 2007. On an annualised basis, the market continued to slow, with growth of 26.2% in the year to January.This compares to a rate of 37.9% in August last year.

For further information, see www.knightfrank.com.

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