guaranteed rent london| Fulham house prices up 13%
Fulham’s “ultra-gentrification†has sent house prices in the borough soaring 13% in the past year, property consultant Savills said today.
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The surge means that £1 million invested in a Fulham property would have gained £2500 a week over the past year — three times faster than the £845-a-week growth across central London.
Residential research director Lucian Cook said: “Fulham is classic example of an area which has undergone ultra-gentrification, attracting international and domestic buyers who, despite significant wealth, have been priced out of the central London market.
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“Such migration of wealth is being seen from Chelsea to Fulham, Kensington to Battersea and Wandsworth, and from Notting Hill to Chiswick.†The latest surge defies Savills’ expectations for flat prime property markets this year because of factors such as the stamp duty increase on homes above £2 million.
Annual price growth in South-west London stands at 8.5%, well ahead of the 4.4% seen in central London.
Source: http://www.standard.co.uk/business/business-news/fulham-house-prices-up-13-8671315.html
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