Top-end of property market 'set to weather financial storm'

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Properties at the top end of the UK housing market, which are often purchased as rental investments, are set to weather the financial storm.

That is according to Naomi Heaton, chief executive of London Central Portfolio Limited, who said that prime properties are unlikely to experience the price falls which are currently being seen in Britain's mainstream market.

In addition, she asserted that there was a lesser risk of repossession in the top end of the market, as prime properties are "largely held by long-term owners".

Ms Heaton commented: "The prime London Central market is substantially self-regulating. As volumes of transactions drop and potential purchasers rent for a period, yields are forced up by the added pressure on the market.

"This in turn makes it more attractive for investors to come backin, which will stimulate capital growth in the longer term."

A recent report from Nationwide revealed that UK house prices have experienced a year-on-year decrease of one per cent.

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