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Luxury Property Values on the Up Turn


12/21/2009 5:18:35 PM
Property company Knight Frank has reported a comeback for top-end homes in 2009, saying prices are just 13.4 per cent below those in March 2008. Liam Bailey, head of residential research, Knight Frank, commented: “With a strong 2.1 per cent growth in December, prices have now risen 13.8 per cent in the nine months since March, meaning prices are only 13.4 per cent below the level they reached in March 2008. “In recent months the more expensive GBP 5m-10m and GBP 10m+ price brackets have caught up with the price growth which initially began in the sub-£2.5m segment in the Spring. During December, the strongest market was the GBP 5m-10m sector with 2.6 per cent growth. “The prime London market has been the strongest property sector in the UK this year, benefitting from substantial inward investment from overseas buyers looking to take advantage of the weak pound and lower overall prices. The number of buyers increased by 25 per cent in the whole of 2009 compared to 2008."


Written by Frank Polenose of Homeowner Loans, Payday Loans, Debt Help and Debt Advice.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS SECURED ON YOUR HOME.