Belgravia and Knightsbridge ‘star’ performers of London luxury property market in 2012

LONDON: Prime Central London homes sales growth hit an average of 8.7% for 2012. The prime markets of Belgravia and Knightsbridge were the star performers at 15%. This was revealed by latest analysis and forecasts for the central London market of property consultant Knight Frank.

Transaction levels for 2012 reached £18 billion with 11,900 deals contracted at an average price of £1.5 million, Knight Frank said. James Roberts, head of commercial research, said: “Clerkenwell, Farringdon and Shoreditch are now firmly established as technology and media districts, and we expect to see this momentum build with the forthcoming 4G roll out. Stephen Clifton, investment partner attributes increased interest in London office investment market the improved exchange rates against the Sterling. 'The pound has weakened further in recent weeks, which only increases the logic for overseas investors to buy in London. Also, pricing looks attractive compared to their home markets in many cases.

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