of Prudential on October 23th, 2013 shows figures that property market in London is riding in the crest of a wave at the moment.The London property market is currently riding the crest of a wave, with prices having risen dramatically in some boroughs over the last few weeks.
In Kensington and Chelsea and Westminster, for instance, asking prices have climbed by 12% in just one month.
What's more, prices in these boroughs have jumped by as much as 30% over the past year.
Miles Shipside of Rightmove remarked: "Some agents currently report a buying frenzy in parts of prime inner London, with available stock so low that their shelves are now bare.
"Unsurprisingly, many of this month's best performers are boroughs in inner London."
Earlier this month, the EY Item Club, one of the country's leading economic forecasters, said that there is minimal risk of another bubble developing in the UK housing market.
The body speculated that government schemes would lead to a 3.5% boost in houses prices this year and 6.6% in 2014.
Article Source: http://www.pru.co.uk/guides_tools/articles/801652378-London-property-/
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