London house price growth 'will remain robust next year'

Property prices in London will remain robust amid the expected house price falls across the country in 2008, it has been predicted.

According to property specialists Savills, the prime central London market will see growth of five per cent next year.

The prediction comes as a number of lenders including Experian and Nationwide have been predicted that property prices will remain largely static next year.

However, according to Lucian Cook, director of research at Savills, the fact that London has remained largely unaffected by slowing rates of growth elsewhere suggests that it is will remain immune to market turbulence.

He said: "To date, you haven't seen the reduction in prices or indeed the slowing in growth rates in London to anything like the same degree as some of the other areas in the country.

"In fact, to date - ignoring some of the monthly statistics, because you can see month on month changes which can take your eye off the ball - [London] has been by far the most robust market," he added.