Prime property in central London can be expected to continue to see valuation increases in the foreseeable future, it has been claimed.
Naomi Heaton, chief executive at London Central Portfolio, believes that over the next five years residential property in the best locations could see average valuation increases by between 8.2 per cent and 10.8 per cent per annum.
In many ways, she says, the London market has been unhindered by the financial downturn which followed on from the credit crunch.
“Including the downturn during the credit crunch, prices from 1995 to date have increased on average by 8.2 per cent,” Ms Heaton stated.
“There is no reason, given the turbulent times that this has incorporated, not to expect this to continue over a further five year period.”
According to Knight Frank’s Prime London Sales Index, properties in the centre of the capital posted value increases of 13 per cent last year
Source: Paramount Magazine