Apartments in Central and West London have enjoyed the strongest price growth since the recession.
Research by property website home.co.uk ranks the postcodes of the UK capital to examine the performance of flats in the years since 2008, revealing a distinctly mixed picture. The most desirable areas of the city have seen apartment values climb significantly, with the top 10 enjoying growth of more than 100 per cent, thanks to strong demand from local and foreign buyers in the face of limited supply.
Doug Shephard, director at Home.co.uk, commented: “Flats are the natural choice of property for first-time buyers. As the UK’s macroeconomic measures slowly recover, buyers are increasingly desperate to get a foot on the property ladder.
“Housing affordability in our capital is not a new issue. However, our study shows both a dramatic diversity of fortune depending on location, and that there are still affordable parts of London not caught up in the speculative bubble.
“The price difference between SW7 and SE2 for an average flat is over £3million and serves as a startling reminder of the extreme diversity of the London market. In fact, when we look beyond the gross averages, the London market may …read more
Source: The Movechannel