United Kingdom Property News

London house prices set to rise say owners

London house prices set to rise say owners In the main most residents believe that London property prices will continue to increase during the next twelve months despite the current economic uncertainty. The results of a survey by YouGov showed that nearly half of those questioned believed that house prices in the exclusive and most expensive borough of Kensington and Chelsea would appreciate the most – closely followed by property in Westminster. More than 75 per cent of respondents believe the average price of London properties will increase during the next year and more than 80 per cent believed that house prices will go up over the next five years throughout the city.

The survey also posed the question ‘should the Mayor of London be given complete control over London property taxes as well as council tax, stamp duty and commercial rates? This did not sit well with the majority of Londoners as only 32 per cent felt it was the way forward.