Evening Standard
The value of luxury homes in London has continued to soar despite rising interest rates which have sent a chill through the rest of the housing market.
Upmarket estate agent Savills said 62% of London homes priced at more than £4m in the first half of the year were sold to overseas buyers. Prices in areas such as Mayfair, Belgravia, Kensington and Chelsea have risen 29% in the past 12 months.
'While interest rates fears and affordability pressures are starting to bite the mainstream housing market, the prime housing market is still being driven by a different set of factors,' said Harriet Black, associate director of residential research at Savills.
