7
Jul
Poll reveals London house price growth
A new Poll of Polls by Chesterton has found that house prices in
London grew by 6.4 per cent in the year to June 2008.
The Centre for Economics and Business Research (CEBR) compiled the
data, which showed that property values in England and Wales were
1.3 per cent higher in June than at the same time in 2007, despite
ten consecutive months of falls.
Overall, house prices fell by 0.8 per cent across the two areas
between May and June, but in the capital they only decreased by 0.2
per cent.
In addition, 19 of the UK's 20 most expensive locations are in
London and 16 of its 32 boroughs have seen monthly price
increases.
Douglas Williams, chief executive of CEBR, said: "This month's
findings describe a housing market where prices are drifting
downward rather than in freefall."
Recently Russell Jervis, the managing director of Haart, suggested
that the London property market is beginning to stabilise.
