Halifax research says the property crash has bypassed the most exclusive residential nooks and crannies of Britain, based on transactions between 2005 and 2009 on the Land Registry database.
This showed that residential property in the highest market echelons withstood the price slump during the downturn. The research showed that average prices of such properties could still exceed £5m.
Wycombe Square, in London’s Kensington and Chelsea, is Britain’s most expensive street with homes costing £5.4m each on average.
Meanwhile, Knight Frank estimates that central London housing starts have halved since 2007 and that the whole county is suffering from “a significant undersupply”.
29/12/09 Times 38-39 Daily Telegraph 7
