London property prices nearly 60% above 2008 crash

With rest of the UK roughly 23% above previous peak

According to the Office of National Statistics (ONS) Property prices in London are now nearly 60% above the peak before the crash in 2008 due to a wave of foreign investment into London, and a huge imbalance in supply and demand in the property market, which have pushed prices skywards.

The planning firm Nathaniel Lichfield & Partners, that UK property statistics are skewed by London, so while there is a noticeable gap between the amount prices have risen in London and the rest of the UK, the real gap is even bigger.

“London’s performance skews national statistics. The average house in the UK is only 14% higher than its peak — if we take London’s booming market out of the analysis — and only 9% higher if we ignore London and the South East,” a report from the firm said.

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