"The prime central London property market continues to attract wealthy foreign buyers"
- Miles Shipside, commercial director of Rightmove
The U.K. property market is showing some signs of recovery, as home sellers in London increased asking prices for a third consecutive month in November, report by Rightmove Plc (RMV) showed on Monday. Nationally property prices rose 2% from a year ago, posting the biggest gain since November 2007. Prices in the U.K. added 1.2% to an average of 483,709 pounds, while prices in London's nine most expensive districts soared 3.4%, with average price exceeding 600,000 pounds.
"The prime central London property market continues to attract wealthy foreign buyers," said Miles Shipside, commercial director of Rightmove. "This is especially true in the international property hot spots of the City of Westminster, where a Mayfair or Belgravia address is a prerequisite for the world's wealthiest. The best of London is increasingly in ‘international only' reach."
"Outside the capital, agents report prices are broadly flat in many parts of the country compared to a year ago," said Miles Shipside, director and housing market analyst at Rightmove.
The FTSE 100 Index jumped 2.36 per cent to 5,737.66. The broader FTSE All-Share Index edged higher 2.20 per cent to 2,997.32.
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