27.09.2012 - Central London residential property prices continue to rise
London’s upmarket residential property prices saw a further increase in September, showing a 51% increase since the low points of March 2008. But tax modifications have affected some sector of the market, with the sales in the £2 million to £5 million segment falling 20% in the quarter to September compared with the same period last year. According to Knight Frank index for September 2012, the average prime property values in central London now stand at a new record high, some 15% above the pre-property crisis peak of March 2008. Despite the impact of the March budget’s 40% rise in the top rate of stamp duty together, there has been a growth in prices, according to Liam Bailey, head of Knight Frank’s head of residential research...............................................Full Article: Source
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