Prime central London property prices continue to appreciate at a rapid rate driven by insatiable demand among domestic and international property buyers.

1. Strong Demand for Prime London properties for Sale
Prime central London property prices continue to appreciate at a rapid rate driven by
insatiable demand among domestic and international property buyers.
With recent research by Knight Frank revealing that average prime central London
property prices have increased by an average of £767 every day over the past 12
months, it is little wonder that more property investors are inquiring after property for
sale in London.
(Property for sale in London)
Demand is particularly strong for property for sale in Westminster, along with
property for sale in Mayfair and property for sale in Chelsea, as these areas are
among the strongest performing London property markets.

2. (Property for sale in Chelsea)
The prime London property market is being led by properties in the £1 million to £5
million price bracket. This means that as well as property in Westminster, Mayfair and
Chelsea, demand is also high for premium homes in other areas, such as Kensington,
Fulham and Notting Hill.
(Property for sale in Mayfair)

3. The influx of wealthy foreign buyers and their influence at street level is evident in
many expensive parts of London. This is adding to demand for properties in other
premium areas, including property for sale in Holland Park, North Kensington and
South Kensington.
Property exhibitions in Singapore, Kuala Lumpur and Hong Kong are driving more
Asian property buyers to London, according to research by CB Richard Ellis (CBRE).
Figures supplied by CBRE show that more than £800 million worth of property -
equivalent to around 2,500 properties in London - were sold at exhibitions in the three
cities last year.
Peter Rollings, chief executive of London estate agents Marsh & Parsons, says that
more than 20 buyers are now registering for every prime property for sale in London
registered on the market.
Commenting on the London property market, Rollings told the press: “We’ve seen
some of our busiest months since 2007 this year, and are in the middle of another
surge of activity. House prices have already risen five per cent this year, and we
anticipate further rises as competition for good quality stock continues to heat up.”
The dislocation between the central London market and the wider UK market has
widened into a chasm over the past 12 months, according to Liam Bailey, Head of
Knight Frank Residential Research.
“Over the past 12 months price growth in central London has totalled 8.3 per cent,
whereas in the UK the corresponding figure has been a fall of -1.3 per cent”, he said.
He added: “I have pointed to international demand as being a key contributor to
London’s bounce. There is no doubt that this is true – with more than 60 different
nationalities active in the market over the past 12 months. However we shouldn’t
underestimate the impact of the central London economic revival on pricing.”

4. (Property for sale in Westminster)
Bailey is one of many housing experts who believe that the revival in the London
property market is sustainable even if overseas demand begins to wane. This is
potentially good news for anyone looking to buy property in London, particularly
property for sale in Westminster, Mayfair and Chelsea.