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London house prices increase by 10%: Haart

Mortgage Solutions
Written By:
Posted:
December 1, 2009
Updated:
December 1, 2009

London house prices increased by 10% in November compared to the previous month, according to the London Property Index from estate agent Haart.

The London Property Index showed that asking prices increased by 10% from £274,077 to £302,632. The figures for November also showed an increase of 14% in the number of properties coming to the market.

The index revealed a rise of 18% in the number of properties sold in Leytonstone and that the average sold price in that area had also increased by 14%. Wimbledon and Southgate saw the largest numbers of properties coming onto the market.

Russell Jervis, managing director of Haart, said it was encouraged by the latest figures as they show real growth in the London market both in terms of the number of properties coming up for sale and their price.

He added: “We know that people have remained cautious about putting their property on the market this year, but these price increases are boosting consumer confidence in the market. This is further shown through the increased number of properties we are seeing going up for sale.”

Jervis added that the London market is anticipating a property boost in 2010 with the controversial reinstatement of city bonuses.

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He said: “Add this to the healthy confidence we are seeing at the moment and we predict a strong start to 2010.”

Haart, part of the UK’s largest independent estate agency group, collected data from across its London branches.