Stark difference in property price increases
A recent report by Knight Frank provides a stark illustration of the dramatic differences in the residential property market between London and the South East and the rest of the country. Whilst central London has seen regular monthly prices rises and even daily increases of hundreds of pounds, the majority of the rest of the country has seen lower prices and lower volumes of transactions.
It maybe that some of the increased activity and prices in London are due to wealthy foreign investors who can see money to be made with property prices lower than several years ago. Add to that a more buoyant employment market in and around London, and you can see the reasons why London and the South East are leaving the rest of the country behind in terms of house prices and level of transactions.
By residential conveyancing solicitor and Stephensons’ Partner Tom Bridge
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