Upward Move in UK Home Prices but London Luxury Homes Trending Downwards

London Luxury Homes

Over the past three months, Britain’s home prices have risen by 2.3%, registering their fastest growth since January and 4.5% higher than in September last year. The average price of a home currently stands at £225,826, which means you may have to pay 2.8% higher now than if you had commissioned an estate agent London and purchased 11 months ago.

Meanwhile, London’s premium properties are on the market for lesser than before, declining up to 4.6%. This is great news if you’re looking at properties for sale in Bloomsbury or Covent Garden. That being said, property buyers across the board have become quite price sensitive. Sellers who have been able to get their properties off the market and into buyers’ hands are those who have taken a realistic approach to pricing. The price sensitivity will depend mainly on inflation, which is already exerting pressure on household budgets in an environment of low wage growth.

In luxury property price stakes, Madrid, Paris and Berlin are beating out London, with 11.9%, 11.3% and 7.3% increases. The top performer is Guangzhou in China, whose luxury home prices have accelerated by 36.3%, with a 6.8% growth in the last quarter alone.

Estate agent in London

If you would like to speak with a London Estate Agent please call a member of the Greater London Properties Team who would be delighted to help. We specialize in Residential Sales and Lettings plus Commercial Offices and Retail. Our branches are based in our Soho and Bloomsbury the team are always on hand to discuss property in Central London.

Call Greater London Properties, Estate Agent London today on 0207 113 1066.