Market Overview: Promising News as the Average London Property price is now over £500,000

22nd May 2014
Islay Robinson GROUP CEO

Islay Robinson

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Market Overview: Promising News as the Average London Property price is now over £500,000
GROUP CEO

Islay Robinson

Contrary to recent reports that the market may be indicating signs of stagnation new research from the estate agent, Haart, suggests that with an annual rise of more than 26% and month-on-month growth of just above 4%, the average London property price is at £501,056.

UK new buyer registrations have also increased and are up nearly 11% annually. This contrasts to the supply of property which has dropped 1.7%.

Indeed, this means that London homeowners have earned an average £100,000 in equity over the last 12 months with London property prices breaking new records and over 30% above their 2007 peak.

These prices are a reflection of supply issues which are particularly grave over London. This is impacting income multiples which are failing to keep pace with asset growth. Although this indicates a strong recovery it needs to be remembered that London’s resurgent market is a fragile one which needs to be monitored.

The Council of Mortgage Lenders have measured gross mortgage lending to be £16.6 billion in April. These figures are promising as these figures are 8% higher than March and 36% higher than April in 2013. It is the highest total for April since 2008.

How to Buy and Finance Luxury Property in France

How to Buy and Finance Luxury Property in France Guide

France is one of the most popular property markets for foreign nationals: we are all aware of the chic appeal of Paris, the enduring allure of the Riviera in the summer or the freshness of the mountains in winter.

Covering everything from search and negotiation to making an offer and the legal processes, the guide will help you fulfil your dream of property ownership in France.

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