London’s residential property market is worth a stonking £1.5 trillion. (No typo, you read that right.)
According to estate agents Stirling Ackroyd, the value of all London homes will hit £2.1 trillion in the next three years.
To get an idea of the galactic London house prices, read this new story about how Hackney home prices have risen 800% in 30 years – faster than Kensington & Chelsea.
Andrew Bridges, director, Stirling Ackroyd, said: “London is enormously valuable, but it is also a prime field of opportunity for developers. We expect a growing wave of new homes in the capital in coming years and under the right conditions, development could help to ease supply. This progress will add hugely to London’s value and in turn its dominance in the British property market.”