The rebound of property prices in London has finally started to gain some traction after stagnating during the pandemic, according to Fine & Country.
Property prices in the capital had faltered over the past 20 months as some Londoners took the opportunity to escape the rat race and move out of the big smoke.
However, the latest ONS data shows that London, despite still registering the slowest annual house price growth in the UK, still grew a healthy 6.2%. The East Midlands was the region with the highest, at 11.7%.
UK house prices up 10.2% in year to October
Nicky Stevenson, managing director at estate agent group Fine & Country, said: “London prices have seriously begun to rebound after a quiet period caused in large part by the pandemic.
“We always expected prices in the capital to make a comeback as people returned to work and the months ahead will be crucial as the government seeks to deal with the effects of Omicron.
“A successful roll-out of the booster jab programme could see London experience the same boom as other parts of the country.”