Westminster is strongest performing property hotspot in London

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by Kay Murchie

According to research from the Centre for Economics and Business Research (CEBR), property prices in Westminster rose by 22% in the 12 months to February and therefore, outperforming upmarket areas Kensington and Chelsea by 0.2%.

Hammersmith and Fulham was rated the third best performing area, with growth of 20.7% recorded over the previous year.

The CEBR also found moderate gains in UK property prices across the country. The organisation established that the average UK property price rose by 0.2% throughout February, representing a marked improvement on the 0.3% decline recorded in January.

Douglas McWilliams, chief executive of the CEBR, said what is crucial is that the difference varies substantially by region, London and Scotland are still showing double digit year-on-year increases.

Partially because of this, the top end of the market still appears to be stronger than the bottom end of the market, added Mr McWilliams.

The research by the CBER was mirrored by anecdotal accounts from estate agents in the area. Chesterton estate agent noted considerable growth in Westminster first-hand.