Demand for property is on the rise in the British capital, which has seen a 2% rise in property demand since the beginning of 2018. This was the finding of the latest property index report in London.
The report shows that whilst demand for property in London continues to rise, commuter towns to the capital have seen previously high levels of demand drop in recent months as the influx of buyers looking to buy property outside of London and commute to the capital to work has started to slow.
The report shows that in London the borough of Hammersmith and Fulham has seen the biggest demand increase this year at a rise of 71%. Prime property markets in central London have also seen large jumps in demand.
Other areas of England that have seen demand for property soar this year is Bristol, where demand for property has risen by 45%, and Berkshire, which has seen a rise of 50%.
The rising levels of demand for homes in London and throughout much of the UK marks a positive sign that the property market as a whole is picking up.
This encouraging report follows UK House Price Index data, which showed that in the year to March 2018, the price in property across Britain increased at an average rate of 4.2%. The data revealed that the East of England witnessed the highest annual growth with property value increasing by 5.8% during the 12 months to March this year.
With demand for property increasing in London, now could be seen as a good time to put a property in the capital on the market.
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