"Half of new London flats snapped up before they are even finished"

Link to Evening Standard

"Demand for new flats in London has reached record levels, with 48 per cent sold last year before they were built.

New figures from international property advisers CBRE show sales of high-value London properties — priced at more than £1,000 per square foot — rose 240 per cent last year compared with 2011. Lower-value properties have shifted more quickly in previous years, said the experts.

The Standard revealed last week that the average mortgage deposit for first-time buyers in London is set to soar beyond £100,000 by 2020.