London Properties Hit Record High

Asking prices for homes in London surged to a record this month, as the buoyant outlook spread to other parts of the country, according to Rightmove Plc.

Prices climbed 2.1 percent from February to 552,530 pounds ($919,000), taking the annual appreciation to more than 11 percent, the website operator said today. Nationally, values rose 1.6 percent to 255,962 pounds, also an all-time high.

Britain’s property-market revival has been encouraged by a strengthening recovery and a government stimulus plan known as Help to Buy, which allows people to buy a home with a down payment of as little as 5 percent. Chancellor of the Exchequer George Osborne said yesterday he will extend the program for new homes to 2020 to spur construction.

Bloomberg

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