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Asking prices in London on the up as rents plummet

11 March 2009
Written by Rosalind Renshaw

Asking prices for properties in central London and listed on Primelocation rose 0.94% in February and are up by over 3.24% year on year.

This is in contrast with anecdotal reports from central London agents who have told Estate Agent Today that actual sales prices are down by up to 25% over the last year.

The site also reports that asking prices for lettings fell in central London by 13.72% between February 2008 and February 2009. It blames a huge over-supply of rental properties, saying that available stock levels rose 97% in that time.

Primelocation says that asking prices for properties for sale outside central London all fell in February – by 6.57% in the south-west and 1.56% in the south-east.

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