London Property Prices Up, reports London Mortgage Broker, London Mortgage Advice Wednesday, 6th January 2010

According to figures from Haart estate agency, asking prices for residential property across London increased by 3.5% during December 2009.

Using statistics from 83 of its London branches,Haart compiled the survey . With key growth areas in Thornton Heath (with an 4.8% increase), Chigwell (2.8% growth) and Walthamstow (1.8% growth), the average asking price is now up to £407,156 from £302,632 .

With the average completion taking around 97 days, the survey also revealed that London properties are now selling, on average, 12 days quicker compared with November 2009

"Overall, the number of properties sold and listed are down because Christmas is a notoriously quiet period for the property market, Russell Jervis, managing director of haart, said.

"However, the good news is the statistics show a marked increase in the asking price. A 3% increase shows steady and sustainable growth and we anticipate increased stability in the London property market over the coming months. This is good news for those looking to buy and sell property during 2010."