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GOOD NEWS ON HOUSE PRICES: "Property prices in capital soar 40 per cent above credit crunch slump"

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"Property prices in London have bounced back by more than 40 per cent from the worst days of the credit crunch, new figures show.

"In April 2009, property values reached their lowest point following the global crash that led to the collapse of financial institutions, bank bailouts and plummeting stock markets.

"But new research shows how far the recovery has come. Land Registry statistics show that across London, prices have risen 41 per cent on average, from £292,977 at the 2009 nadir to £414,356 now. Kensington and Chelsea is the best performer, with average prices up 76 per cent, from an average £703,259 five years ago to £1,236,605 today."

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