LONDON: Property in London is being snapped more quickly than at any time since October 2007 when the market hit its peak before the financial crisis, according to figures from real estate data firm Hometrack.

Homes in London were typically on the market for 4.6 weeks in April — nearly half the period of more than eight weeks seen at the end of 2008 at the height of the financial crisis. Sellers achieved more than 95% of their asking price, also a level not seen since 2007.

Property prices in the capital rose 0.7% in April, matching March which was the biggest jump since February 2010. Prices in England and Wales rose 0.3%, also the joint biggest rise in three years. — Reuters

 

This article first appeared in The Edge Financial Daily, on April 30, 2013.

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