Property price rising faster in London and England

nnLondon, the south and east of England set to see best property price growth in UK over the next five years. According to Strutt & Parker, London price growth increases by 16.6%, the South East by 16.2% and the East of England by 14.5%.

Stephanie McMahon, Strutt & Parker’s head of research: “The prime central London market has historically been the primary driver of national house price growth but 2016 has seen the capital being outperformed by other locations, most notably the outer metropolitan area of London, and East Anglia and this trend is expected to continue into 2017. As is typically the case in a slow market, the volume of transactions in prime central has been very low. We are seeing more and more examples of sellers prepared to review their pricing and entertain reasonable offers, so it may be that the market has found a new level which will spur transaction levels. However, we expect the market to continue to experience low levels of activity as buyers and sellers alike wait for more certainty on the economic outlook.”

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