|
|
PRICE INCREASE IN CENTRAL LONDON
Winkworth conducted a survey on the sales market of central London. It revealed that prices of houses during the duration of April 2008 and September 2009 have shown down trend in some areas whereas rise trend in some other areas.
The prices of houses with three bedrooms and the houses with more than four bedrooms have shown a rising trend in central London during the duration of September 2008 to September 2009. In fact they seem to be at the same level as they were in April 2008. The value of an average house increased by .01% whereas there has been an increase of about 7% and 13% in the prices of houses with 3 bedrooms and houses of more than four bedrooms respectively in central London during the month of September 2008 and September 2009. This increase in prices of houses proves that recovery is taking place in the central London market.
This rise in the prices of houses in the central London is due to the fact that there has always been a shortage of supply of property in relation to demand. The demand of property is always high because London is a prime location. According to Alex Thomson who is the director Winkworth Noting Hill told that shortage of supply of property has improved the conditions. People are not selling their property because either they think that the time is not right to sell their property or the low rates of interests stop them from selling their assets. The market of central London is dominated by the cash buyers from the beginning of this year. These are those people who want to capitalize their money and avail the benefit. |
|
|
Mortgage best buys and tools |
|
|
|
| More from Your Mortgage |
|
| When
it comes to household insurance, there are two kinds of
policy.
* Buildings insurance covers the structure of the home
itself, as well as the fixtures and fittings
* Contents insurance covers the contents you would take
if you moved.
|
|
