London homeowners earn £28,000 in 2012

London homeowners continue making a profit  thanks to the increasing value  of their properties in 2012.

London homeowners are set to receive a £28,000 Christmas present from the rising value of their property this year, new figures show today.

The average London home has gone up in value by 6.8 per cent from an average of £421,070 to £449,541, a rise of £28,471, according to property website Zoopla. It made the capital easily the strongest regional property market this year with only the South-East, South-West and East Midlands also in positive territory.

Outside London, Cambridge saw the biggest rise of 5.9 per cent (£18,026). Many pundits predict a dramatic slowdown next year.

Source: London evening Standard

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