London Drives House Prices to Record as Buyers Flock to Market – Bloomberg 07-11-13

Salient to Investors:

Acadametrics and LSL Property Services said prime property buyers are pouring money into London, helping increase UK house prices 2.5 percent from a year earlier to another record in June. Prices have increased for 10 consecutive months, driven by buoyant international demand for London homes and loosening mortgage availability. Acadametrics said house-price inflation in London is 2 1/2 times that of the rest of the UK .

Richard Sexton at LSL said the plethora of attractive mortgage deals is causing wider pools of buyers to flock to the market, but the market has a long way to go to reaches its pre-2008 health. Sexton said sales figures for June 2013 are below those of the previous 3 years, and first-time buyer numbers remain low outside the southeast.

Read the full article at http://www.bloomberg.com/news/2013-07-11/london-drives-house-prices-to-record-as-buyers-flock-to-market.html

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