House prices on the up in London, figures show

Posted 03/07/2011

Many people in London may wish to hire a residential conveyancing solicitor and consider selling their property given the current state of the market.

The June 2011 Prime Central London Index from Knight Frank has revealed the price of dwellings in the capital is increasing.

Property values rose by 0.9 per cent last month and there is a steady demand among buyers, the estate agent reported.

Prices are now at a record high – topping the previous peak in March 2008 by two per cent.

This could mean many people wishing to move want to take advantage of present figures and get as much for their home as possible.

Head of Knight Frank residential research Liam Bailey said: “On the demand side the number of new buyer registrations has held steady, although viewings volumes were up eight per cent over the same period.”

However, these figures do not reflect wider trends in England and Wales, as the recent Land Registry House Price Index showed values to have decreased between April and May.