Estate agent Knight Frank recently said house prices in the capital were rising at a rate of more than 30% annually during 2007.
The Urban Land Institute (ULI), which concentrates on the use of urban land in order to enhance the total environment, has established that London has dropped to fifteenth place with regard to investment prospects and thirteenth place in terms of development prospects.
In the past, London has been branded ‘a long-term favourite’. According to a spokesperson for the organisation, it is a measure of the sentiment of investors and developers which reflects that London, relative to other markets in Europe, has become exceptionally expensive.
