Luxury Real Estate in the London area
In II quarter. 2010 cost of luxury properties in the London area has grown by an average of 2,5% on the previous quarter and was almost 8% higher than a year ago.
During the first half prices rose by 4,6%, but still remain at 15% below the peak autumn 2007
During the past 12 months prices for the real estate market of suburban London was observed throughout each quarter. The continuing decline in the number of objects in the sale, along with increasing demand are a major cause of rising prices.
Luxury Real Estate Central London
On the residential property market in central London continues to decline in prices that began in July 2010, but at a slower pace: in August 2010 prices decreased by 0.1% from the previous month (in July, the decline was 0.5%).
By reducing the price of annual growth in August 2010 was 16% (in April the figure was 21%). Falling prices affected all price segments, but real estate prices in the range of ? 1 million to ? 2,5 million, fell the most.
In comparison with the Central London commuter market price is subject to fewer fluctuations and a lower amplitude rising and falling, ie market suburb of London is more stable in terms of price changes than the market in central London.
At the same time a large return on investment in the elite residential real estate was available on the market of Central London, as fall in prices in 2009 was almost 2 times more than the suburban market and in the II quarter. 2010 is already close to pre-crisis level.