London house price boom

House prices have risen for the third month in a row as market conditions in London improved to levels not seen since 2007, according to a new property study.

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Demand outstrips supply in the capital

Demand has grown three times faster than supply in London

House prices in London grew by 0.7% in April - the highest in the UK. Demand in the capital has grown three times faster than supply over the last quarter and this rise is driving the rate of growth across the country.

In London, homes are on the market for almost half the national rate, at just 4.6 weeks - and 95% of sellers are achieving their asking price; levels last seen in the summer of 2007.

In the rest of the country, prices increased by 0.3% month-on-month following a similar uplift in March.

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