Morning:
8°c
Price rises lift recovery hope in capital’s housing market
27 Jul 2009Hopes of a recovery in the London housing market gathered momentum today, after figures showed prices rose sharply in prime suburban areas.
Prices in areas such as Hampstead, Richmond, Wandsworth, Wimbledon and Fulham rose by 3.7% in the three months to the end of June, says estate agent Knight Frank.
The rise means prices are now 10% lower than they were a year ago — an improvement on the 14% drop seen in March.
However, much of the increase was due to the lack of housing stock coming on to the market which forced property prices to rise.
Liam Bailey, head of residential research at Knight Frank, said: “We saw last year that the markets which were hit by the biggest price falls were those which traditionally appealed to bankers and City employees. When the economy in London began to contract, it was areas like Wandsworth and Fulham which initially took the hit.
“This discounting was overdone, and in fact far from the City economy being down and out, the view is that central London will be one of the first parts of Europe to see a sustained recovery.”
Reader views (13)
Keith Price, you need help, make an emergency appointment with a neurologist
- Carlos, Spain, 24/07/2009 06:14
Report abuse
I love these imaginative articles on house prices, usually quoting an 'estate agent' We are drowning in debt and it will take years to get out of this mess. maybe for a few cash rich people houses are being bought..the rest of us are struggling to make ends meet. As for the High St, shops are closing at a rate of noughts. Its very depressing as greed still abounds and realism has even now not set in
- Sheila, london uk, 23/07/2009 17:32
Report abuse
Well done Gordon Brown for rescuing the country from the worldwide economic recession, which has hit many nations much worse than us
- Keith Price
Annual Fiscal Revue cancelled by GB (why?)
News of 38 billion shortfall in taxes sneaked out just before the recess
NAO refuses to sign off audit of Treasury
Six million (incl benefit claimants etc) unemployed and climbing
The reality of the true economic condition of the UK is still being well hidden by this most dreadful of governments. When this starts to come out, probably around October/November I think that Keith Price and the other Labour deniers will go into cocoons, or at least blame it all on Maggie.
- Jeff Hyman, Peyia Cyprus, 23/07/2009 15:28
Report abuse
Kieth Price, firslty, what's your comment got to do with the London's housing market!! Seconldy, what planet have you been living on? Gordon Brown is the worst PM this country has had by a country mile. Wtih regards to the Labour Party, self-serving career politicians who have nothing but contempt for the public's wishes. So much for democracy - bring on an election.....NOW
- Dominique Marion, London, 23/07/2009 15:26
Report abuse
the scotish unelected PM who has no financial or magerial training has ofcourse dumped britain into the bottom of the EU dustbin. House prices will only stabilize and poss rise in specific and desirable regions. we expect prices in Luton to tumble for many years to come as it declines further into a third world slum
- Mark Armstrong, london. uk, 23/07/2009 14:06
Report abuse
I am looking forward eagerly to Keith Price's imaginative review of the North Norwich by-election result.
Keith, this is a very important matter - don't let your readers down.
- Ted, London, 23/07/2009 14:03
Report abuse
Keith, you need help.
- Ted, London, 23/07/2009 13:57
Report abuse
We have a PM with experience, ability and courage, while the Tories have a rich dilletante and charlatan, who makes promises one day and reneges on them the next. Absolutely no leadershiip quality there
- Keith Price, Luton, England, 23/07/2009 13:15
Report abuse
Ok so let me get this right an estate agents says prices are up? So is this asking prices or selling prices, can we have some actual data backing up this poorly devised article
Oh and Keith from Luton - you have some serious issues
- Louisa, London, 23/07/2009 12:56
Report abuse
It's only lack of supply holding prices up. More redundancies will sort that out and then prices will drop further
- Matt K, Ware, 23/07/2009 12:20
Report abuse
It's nice to hear from that poor deluded sole Keith Price of Luton. But your day release is now over. Please make your way back to the asylum where you are due for your next dose of Labour hallucinogenic drugs.
- Paddy, South London, 23/07/2009 12:00
Report abuse
Keith, keep taking the tablets.
- Jb, London, 23/07/2009 11:12
Report abuse
Well done Gordon Brown for rescuing the country from the worldwide economic recession, which has hit many nations much worse than us
- Keith Price, Luton, England, 23/07/2009 10:19
Report abuse
