House prices in central London rose to yet another new high in August, says Knight Frank.
They grew 0.5% over July to stand at 9.9% higher than August of last year and 14% higher than their previous market peak of March 2008. The median price is now an astonishing £3.5m.
However, the firm is still sticking with its forecast of 5% annual house price growth in prime central London, saying that it assumed – ‘at least for now’ – that prices are nearing their peak and that new Stamp Duty rates will have a downward impact.
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