Average asking prices in London have hit a record high of £650,000, with price growth driven by rising demand in the outer boroughs.
Buyers priced out of more central London locations because house price growth has vastly outpaced wage rises since the 2008 property crash have been increasingly searching for better value and more spacious homes on the capital's fringes.
Increased demand in these outer suburban boroughs has led to London house prices rising by an average of 1.4 per cent – or more than £8,500 – in the last month alone.
This growth has come despite the widely-reported market uncertainty since Brexit was announced in June last year, and the expectation that Article 50 will be triggered imminently.
http://www.homesandproperty.co.uk/property-news/buying/london-house-prices-hit-record-high-an-average-home-in-the-capital-now-averages-650000-despite-a108991.html