The ongoing eurozone crisis as well as turmoil in the global economy have contributed to price growth in London’s luxury property market, according to research by multinational real estate firm Knight Frank.
The research shows that the price of prime properties in central London rose by 0.6% in September 2011 compared to the previous month, hitting an average of £3.97 million per house.
In the last 12 months, prices have grown by 11.4%, representing a price hike of £1,117, per day the study also found.