Monday, April 20, 2009
Prices on the slide at the top end of the market
According to the latest Property Rich List compiled by the house prices website Zoopla.co.uk, London is still home to over one thousand streets where average home values remain over the £1m mark. All three of the most expensive areas in Britain are in the capital and all boast average homes values of over £1 million despite the market downturn. Homes average about £1.3m in Kensington, and £1.1m in Chelsea and Knightsbridge. No other areas of the country managed to achieve average home values over £1m, and the values in these three areas are all down on last year, with average property prices having fallen almost £250,000.