London homes distort prices
Independent property research firm Hometrack said house prices were growing at their fastest level for two years – but a lack of homes for sale and robust demand in the capital was driving the mini-boom.
The Hometrack study for October showed that the cost of the average home grew by almost £700, or 0.4%, during the month to reach £168,600. The value of London homes rose by almost 1% during the month, leaving the average property costing £287,600 - £2,560 more than in September.
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