Greater London breaks property records

15th February 2015

The data from Anthony Webb Estate Agents Palmers Green, in association with Move with Us and home.co.uk shows the average asking price in Greater London reached a record breaking high in December 2014 of £475,864. In the last year the average asking price has increased by £65,108 (15.86%). The average asking price is on track to break the £500,000 barrier in 2015.

The average advertised rent in the Capital has grown significantly over the past 12 months. In a yearly comparison, it increased £255 per month (11.58%), one of the largest increases on record. The quarter ended with the average advertised rent at £2,463 per month. Advertised rents are likely to continue on an upward trajectory in 2015.

Tony Ourris, Director at Anthony Webb commented: “Property owners can be confident in the robust nature of the market. There’s good motivation for buyers to get involved in the market in Greater London at the moment as mortgage rates are as low as they’ve ever been and the rental market is strong – positive signs for any buy to let investors or landlords in the region.”