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PPI Claim News - 30/11/2009

 
Loan Insurance: Bankers push up house prices

The cost of properties in London is being pushed up by bankers on a property spending spree, new research has shown.

Figures from estate agency Knight Frank show that house prices in the capital rose by more than one per cent in November and are up by 11.4 per cent since March.

The boost in the market has been led by the most expensive properties, with the top end of the market, homes costing more than £10 million, growing by 1.9 per cent.

Liam Bailey from Knight Frank said: "City money is becoming more apparent as we get closer to the end-of-year bonus season, and with the upper end of the market benefiting most, it is clear that demand from senior management is driving the market."

Last month, figures from the Centre for Economics and Business Research showed that bonuses are on the rise this year.

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