London property remains a safe place for people to invest.
This is according to Selwyn Lim – director of Mouseprice – so builders in London may find they are busy in the coming months as people look to renovate homes.
Mr Lim stated the capital has always been “unique” in terms of value, because the cost of homes in it is affected by “overseas cash and lots of overseas buyers”.
Because of this, he added the city will continue to operate in a different manner to other parts of the UK and so individuals should never be worried about investing in it.
Rightmove has revealed a north-south divide is increasing, with average asking prices in the south now more than double those of the north.
Mr Lim stated this is partly because the north benefited the most from the property boom in 2005-06 and so it was set up to lose much more.