Pound increases against Dollar as London house prices surge

Pound Increases Against Dollar As London House Prices Surge

Overseas buyers areflocking to buy homes inLondon's wealthiest ...More
Overseas buyers areflocking to buy homes inLondon's wealthiestareas, a report saidyesterday. Home sellersare said to haveincreased prices for thethird month running as aresult. Less

Pound increases against Dollar as London house prices surge

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Overseas buyers are flocking to buy homes in London's wealthiest areas, a report said yesterday. Home sellers are said to have increased prices for the third month running as a result.
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Overseas buyers are flocking to buy homes in London's wealthiest areas, a report said yesterday. Home sellers are said to have increased prices for the third month running as a result.

The average property price in the country's capital increased 1.2% to £483,709 while properties in the most expensive districts of London are said to average £600,000, an increase of 3.4%.

London is attracting investors who want safer investments and luxury homes. Buying a home in some of these districts is almost a pre-requisite for wealthy foreigners.

Compared with the rest of the UK and Wales with house prices averaging at £236,76, the biggest decline in almost a year, London continues to rise high.

With this report, we saw the pound strengthen against the dollar 0.2%, but remains little changed against the euro.

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Posted on: 03:34 PM - 29 Jul 13

Pound increases against Dollar as London house prices surge
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Overseas buyers are flocking to buy homes in London's wealthiest areas, a report said yesterday. Home sellers are said to have increased prices for the third month running as a result.
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