Everyone knows that London property prices are a league all of their own, but new data has highlighted figures that make even the most hardened house-hunter stop in their tracks.
The new research, released this week by NLP Research, has shown that London is outstripping the rest of the country when it comes to how the capital's property prices are rocketing, increasing in value by a whopping £3.48 per hour! This meteoric rise has led to a nearly 10% increase in London prices this month, compared to October 2014.
Working on an increasing hourly rate of £3.48, lucky London home-owners are looking at their properties increasing at an average rate of:
- £83.52 a day
- £584.64 a week
- £2505.60 a month
- £30,484.80 a year!
Elsewhere in the country, the hourly growth is somewhat steadier, with homes in the East Midlands increasing by £0.53 an hour, and the North West increasing by £0.03 an hour - 116 times less that the growth seen in London.
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