London Residential Property Price Growth Yet Prime Properties Still In Demand

Property prices continue to climb for prime central London locations yet property remains in demand. Although, buyers may be becoming more resistant to the price rises, especially at the top of the market.

In August property prices in London’s most affluent areas increased by 0.6%. This totals at 4.8% this year, according to Knight Frank’s Prime Central London Sales Index.

Price rises were most obvious in Marylebone with increases of 1.5%, followed by Notting Hill with increases of 1% during August. Islington, City Fringe and Hyde Park followed close behind with property price rises of 0.9% in August.

Interest in prime London locations remains high for prospective buyers, even though prices remain at a height and continued growth. There are 33.9% more interested buyers so far this year compared to the same period last year. There have also been 18.5% more viewings on prime central London properties on the same period last year.

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