Renthusiast2.0

According to Liam Bailey at Knight Frank Research:

“Prices in central London now stand 23.5% higher than they did only 12 months ago. This is the highest rate of growth in prices since June 1997 when the annualised rate was 25%. Prices jumped for the most expensive homes in the Capital by 2.2% in September alone. September was an extraordinary month for the prime London market. Buyers came back into the market in serious numbers after the summer break. Our records reveal that the number of buyers registered to purchase property in central London is 111% higher than the same period last year.”

Other highlights from the report:

• Central London property prices grew by 23.5% in the 12 months to September 2006 – the highest rate of price growth since June 1997, the previous peak marked Tony Blair’s first election victory

• The summer slowdown lasted one month, with August’s 1% growth replaced by 2.2% growth in September

• Immense demand for prime London properties together with a noticeable lack of stock has been the key driver of sharp upward movement in price growth

• We report approximately 50% less supply on the market this September compared to the same month last year

Once again, serious shit for London.
[via Knight Frank]