Sales: Prime London Begins To Stabilise
Asking prices in Prime London areas rose by 0.55% (£7,001) in December, the second successive month of rising values, and are now 3.8% higher than in December 2007, according to Primelocation.com's latest House Price Index.
Asking prices in December were strongest in West/South West London (0.69%) and weakest in Islington, City and Docklands (-0.17%). The price rise coincided with a reduction in the volume of available stock on the market. December’s stock levels were -3.8% down on the levels recorded in December 2007.
Andrew Smith, Primelocation.com's Head of Insight, comments: "Over the past couple of months prime agents have reported a modest upturn in activity (albeit from a very low base), a trend which can be attributed to the impact of falling prices, lower interest rates and a rise in demand from...