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14/08/2009
Property lawyers may be busy as London 'stays affordable' |
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London property prices are retaining their present level of affordability better than other parts of the country, it has been stated.
Chief executive at property investment firm London Central Portfolio Naomi Heaton said recent Chesterton Poll of Polls and Land Registry data disproves the claim that London and the south is seeing the fastest price rises.
"The quarterly data clearly indicates that there has not been a north-south divide in the last quarter," she stated, noting that the highest rise in this time was the north region at 4.61 per cent, while London only rose by 1.08 per cent.
She noted that the prime central London market has not boomed as much as some expected, although it has seen a "marked increase" in activity recently.
Those keen on buying the capital at present may wish to speak to a property lawyer.
A greater price rise in London than elsewhere had been suggested in the most recent survey by the Royal Institution of Chartered Surveyors.
This had found the majority of surveyors reporting a rise in prices over those reporting a fall was 31 per cent in London, whereas it was minus 23 per cent in the north.
Written by Anthony Dyson
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