Prime London Property is a unique market

Prime London Property is a unique market, always has been.


According to a Nationwide report released today; "December saw the largest annual rise in house prices for 22 months, with property values 10.5 per cent higher over the year".No doubt that is a correct statistic but cannot be applied to Prime London Property.In the last quarter of 2006 most agents that handle prime property will agree that we experienced a 10%-20% increase in property prices just in the last quarter of 2006.Comparing the UK property market with London's top addresses is misleading an inaccurate.The same nationwide report says that average house prices are now £173,746, well according to Hometrack the average price of a property in the Royal Borough of Kensington & Chelsea is now £930,000 and £1,300,000 for all prime London property, accourding to Lonres.com.So maybe if you multiply by at least 5, national statistics apply to prime London Property.Brought to you by property professionals at http://www.palacegate.com