Average prices of prime central London homes increased by 0.4% in June and have risen by 3.7% in the first six months of the year. Prices for luxury homes in the capital are now 58.6% higher than the market low in March 2009.
However, a more detailed examination of the data shows that there are wide variations in terms of price performance depending on the value of a property. While prices have risen across all price brackets in 2013, at the lower end of the market sub-£1m properties have seen an increase of 6.6% over the year to date. Annual price growth for sub-£1m properties stands at 12.1%, well above the
PCL average of 6.9%.
Source : Knight Frank