Luxury-home prices in central London will climb about 3 percent next year as the outlook for the city’s financial-services industry improves and the weaker pound attracts overseas investors, Knight Frank LLP said.A shortage of houses or apartments for sale in the city’s most expensive neighborhoods will lift the average price of a home costing at least 1 million pounds ($1.58 million) by 1.1 percent this year, the London-based broker estimates.“The economic prospects in central London are brightening more rapidly than elsewhere in the U.K.,” said Liam Bailey, Knight Frank’s head of residential research, at a presentation today. This is “something we are beginning to see feed through into the employment market.”
By Simon Packard, Oct 12, 2009 Bloomberg

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