London property prices are rising on average by 3% according to residential property agent Haart. While nationwide property prices are showing small shoots of recovery, London is seeing a bigger rise in values, says haart’s London Property Index.
Nationally, it has been reported that there has been a 0.7 per cent increase in house prices. In the capital, however, there was a 3 per cent increase in both average asking price and average sold price between February and March according to haart.
The average sold price of a property in London increased from £261,349 to £269,971 over the month, with buyers paying the most for properties in Camberwell Green, Raynes Park and Wembley Park.
There was also a 19 per cent increase in the number of homes for sale, as Londoners showed their confidence in the housing market.
haart, which is part of the UK’s largest independent estate agency group, compiled the survey using statistics from 23 of its London branches.
Chief Executive Paul Smith said: “It’s very encouraging that the London figures are on the up. “It seems the darkest days of recession are firmly in the past, and we have high hopes for the 2010/11 financial year.”
