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Great News! House prices in London rise by 7%! (Or bad news?)

Link to BBC web site

"House prices in London rose by 7% in the year to the end of October, far outstripping increases elsewhere.

"... The Land Registry figures show some startlingly high price increases in some of the wealthier parts of London, driven by the continued influx of money being invested by foreigners seeking a safe home for their cash.

"The biggest increases have been in Kensington & Chelsea (up by 16%), Westminster (15%) and Hammersmith and Fulham (10%), with Hackney, Haringey, Islington and Wandsworth all seeing rises of 9%."

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