Asking prices for homes in London surged to a record this month, as the buoyant outlook spread to other parts of the country, according to Rightmove Plc.
London home sellers increased asking prices for a third month in November as the city’s wealthiest areas continued to lure overseas buyers, Rightmove Plc said.
London home sellers raised asking prices to a record as they sought to tap the housing-market recovery and benefit from the scrapping of costly disclosure rules, Rightmove Plc said.
Asking prices for London homes fell from a record this month in a sign buyer concern about overpaying is prompting them to step back from the market, according to Rightmove Plc.
Asking prices for homes in London surged to a record this month as values in the borough of Kensington and Chelsea rose to an average 2.2 million pounds ($3.5 million), according to Rightmove Plc.
London home sellers raised asking prices by the most in two years in October, pushing values in the capital to a record.
"This is not a resurgence of the London boom."
- Miles Shipside on Oct 19, 2014