Overseas Demand For London Property Keeps Market Stable

Property in London continues to be a safe bet for investors as overseas demand is helping to keep the market stable, it has been revealed.

Selwyn Lim, director of Mouseprice, said the ongoing robust nature of the London market can be attributed to the city's position as a globally-renowned cultural and business centre, with the capital continuing to outperform the rest of the UK in terms of its ability to recover from the financial downturn.

"London has always been a unique case in that the supply and demand of property in London is [affected] by overseas cash and lots of overseas buyers," he commented.

According to figures published by Rightmove, the gulf in north-south average asking prices is now the highest it has ever been.