Average property in London to hit £600,000 in four years

5th February 2014

Average property in London to hit £600,000 in four years

London property prices have increased at more than double the rate of the rest of the UK during the past year. The average house price in the UK capital is set to hit £600,000 in four years time - 3.5 times the average house price in Northern Ireland.

Research also demonstrates that income multiples are now back to pre 2008 levels in London, as homeowners increase the amount they’re borrowing. In the year up to November 2013, house prices in London have increased at over double the rate of the rest of the UK, according to Land Registry figures.

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The Telegraph