The Royal Institute of Chartered Surveyors has just announced that house prices rose at the fastest rate in seven months in October and they predict that prices will continue to rise over the next three months as a result of a "dire" shortage of homes for sale.
Their comments support research recently carried out by property consultants JLL, predicting that the average London home will be worth £483,968 by the end of this year. By the same time next year, the figure will have increased to £508,166 — a paper profit of more than £24,000.
However in Kensington and Chelsea, where high prices dominate, prices will rise to an average of almost £1.4 million by December next year.
Prime real estate in Kensington and Chelsea is a solid investment and if you are looking for properties for sale in these areas, why not call into Lurot Brand’s Kensington office for a chat?
Kensington & Chelsea, where high prices dominate, is predicted to see a rise to an average of almost £1.4 million by December next year, earning owners an extra £70,000 in equity