Apartment prices in “prime” central London rose by a staggering 33 percent last year, according to a report out on Wednesday, thanks to reforms to the taxes levied on homebuyers.
As a result, the average home price in prime central London—which includes some of the world’s most desirable addresses in the Royal Borough of Kensington and Chelsea and the City of Westminster—hit £1.74 million ($2.65 million), reported the London Central Portfolio (LCP), an asset management firm which invests in residential property.
The U.K. housing market showed mixed signals during 2014, after the introduction of schemes designed to make homebuying more affordable—particularly in London—piqued fears about another property bubble. Investors worried about the future of the market, hitting the number of transactions.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015