Real estate values in the central London districts are expected to experience further growth over the coming months, one expert in the sector has claimed. Naomi Heaton, chief executive of London Central Portfolio, explained that her firm believes price increases before the recession were not over-inflated, but were in fact "in line with long-term growth projections following a slow start to the millennium".
As a result, Ms Heaton and her colleagues do not feel that it is unrealistic to anticipate further rises in London property values. She commented that prices are expected to "catch up to where they would have been had there been no credit crunch and that means accelerated growth above long-term averages of eight to nine per cent per annum".
Knight Frank published data last week that revealed London house values had risen by 0.9 per cent during August, bringing the annual increase to 10.5 per cent in 2011. The firm also pointed out that property prices in the capital have jumped by 36.3 per cent since hitting a low in March 2009 following the onset of the economic difficulties.
- Tuesday 06 September 2011