Luxury property sales soar in London

Transactions in the luxury end of the Prime London market have surged as a percentage of all sales in the capital city, a leading property consultancy reports.

UK-based consultants The Buying Solution, an independent arm of leading agents Knight Frank, have uncovered figures which indicate luxury sales in London – or properties valued from £1 million to £3 million – made up a massive 78% of total property transactions in the city centre over the past year.

"We are seeing heightened activity in the prime London market", said partner Andrew Giller. "We've also seen price increases of approximately 10% on the best in class properties in prices £1 million and above since the beginning of the year."

Source: The Buying Solution