London House Prices Are Two Times Higher the National Average

A report published by Chesterton Humberts, UK estate agency, revealed that house prices in London are almost double the national average. This conclusion is based on a study by the agency that incorporated house price indices compiled by leading organisations.

The report also showed that the gap between the prime and inexpensive regions continues to grow. As such, house prices in the most expensive regions in England and Wales rose by 3.4% in the first quarter of 2011. Property values in the least expensive regions, on the contrary, fell by 5.1% in Q1 2011.

According to Chesterton Humberts, London house prices rose by 0.2%. As other firms reported, property values in other UK regions fell in March.

Commenting on the findings, Mr. Bartlett of Chesterton Humberts, said that "The typical price of a house in London – £338,583 – is 3.9% below the highest ever price recorded for the capital as a whole." He highlighted that house prices in London are higher in 2011 than in 2010.

Detailed Chesterton Humberts’ report is available on the agency’s website.