Needs-based buyers drive London’s prime central market – The Times

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Prices in the capital’s most expensive postcodes are starting to rise again

Anne Cuthbertson

Prices have come down 15% in Notting HillALENA KRAVCHENKO/GETTY

There is at last a break in the clouds that have hung heavy over the top end of London’s prime central market. After more than three years of slashes and stagnation, prices look as though they are bottoming out and buyers are making their moves.

Savills reports an “exceptional” recent run, culminating in the sale of five properties worth a combined £200m in a three-week period. “There is a little bit more confidence,” says Jonathan Hewlett, director of London residential sales at the estate agency. “Prices seem to have found their correct level after 3½ years of drops. The decline in values has definitely halted and people no longer feel they are overpaying.”

In Notting Hill, Strutt & Parker’s office has done more deals in…

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