Morning:
6°c
Rising house prices outside London set to outstrip capital
5 Feb 2010London led the recovery in Britain's housing market at the end of 2009 but will lag behind the rest of the country this year.
Research by BNP Paribas Real Estate today showed that house prices in the capital rose by 2.5% in the final three months of last year.
This was better than anywhere else in the country where average house prices rose by just over 1%.
Crispin Topping, head of London residential agency at BNP, said: “Unsurprisingly, Greater London saw the most increase in house prices in late 2009 due to a lack of supply in the capital and an ever-increasing demand.
“However, while we expect London house prices to continue growing, it is likely to be a more measured and sustained growth in 2010.”
He forecast that London house prices will rise by nearly 5.5% this year — much slower than the 10% growth expected in the South-East, 11% in the South-West and 12% to 15% in Wales, Scotland and Northern Ireland.
Reader views (3)
Oh what a surprise BNP Paribas Real Estate gives a glowing report for house prices and it gets reported as legitimate news - Oh well
- Mr Pastry, Brisbane Australia, 11/02/2010 12:34
Report abuse
Wrong
the market will boom out of control as it is led by speculation
the uk needs to wake up
- Peter, Moscow RF, 06/02/2010 14:24
Report abuse
House prices in the UK should drop by about 50% so that young families can afford one without both parents having to hold down two jobs while the kids roam the streets... many of the problems in the UK can be traced back to this rediculus obsession with house prices
- Harvey, London, 05/02/2010 18:43
Report abuse
