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London house prices are on the rise

A recent report from residential property market specialist Hometrack has found that house prices across the UK’s largest cities have increased by 4.3% in the last three months – the highest quarterly growth since 2004. There’s good news for homeowners in London as the city is one of the few to have experienced the highest year on year growth, with a rate of 9.4%.

Richard Donnell, Director of Research at Hometrack, commented on the report’s findings: “There remains further upside for city level house prices over the remainder of 2015.  Low mortgage rates, economic growth and rising earnings will continue to stimulate demand and put an upward pressure on prices. As an international city, London is out on its own setting new highs for prices and affordability.”

Currently, one of the most in-demand areas in London remains to be Canary Wharf. To understand why, read our 5 reasons on why to invest in the area (link to previous article).

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