Central London Estate Agents

The property market in central London is continuing to motor away from the rest of the UK, according to analysis of the latest official Land Registry figures. Prices in London Central (the Land Registry's term for the boroughs of Kensington and Chelsea and City of Westminster) rose by 0.6 per cent in the first quarter of 2012, bringing the rise over the previous year to 10 per cent. For England and Wales as a whole, prices fell by 0.7 per cent on the quarter and by 3.3 per cent for the year. Since the depth of the property bust in 2009, prices in England and Wales have floated up by a gentle 11.2 per cent but flats in London Central have rocketed ahead, growing by 28.8 per cent. Interestingly, the figures also show that the number of transactions in London Central has continued to fall, to a new low of…

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The only real action in the London property market is now in properties worth more than £2 million, according to the banking and mortgage giant Lloyds TSB. Sales worth more than £2m grew by 9 per cent in 2011 but sales of properties worth £1m were static. Nothing illustrates better the fact that in central London a million pounds buys you a fairly ordinary family home, not a palace. The international super-rich are now paying a minimum of £2m for the special kind of home they desire, and it is only the international super-rich who are able to deploy that kind of investment in the current economic climate. And for them, London still represents a glowing investment opportunity, combining political and economic stability, the status of the world's greatest city and good financial returns. The enduring popularity of central London as one of the places where all billionaires have at…

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