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Luxury-home prices in London to climb 8pct this year on overseas purchasers

Posted on 27 June 2011

Central London luxury home prices will increase by 8 percent this year as overseas buyers take advantage of a weak pound, broker Savills Plc (SVS) said, reversing a November prediction that values would fall.
The average price of a home costing at least 3 million pounds ($4.8 million) and located in neighborhoods such as Knightsbridge and Belgravia rose 9.6 percent in the second quarter from a year earlier, Savills said. The quarterly gain was 3.4 percent………………………………………..Full Article: Source

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