London property prices boosted by bankers' bonuses

 

 

Bankers' bonuses and mortgage lending rules that favour the super-rich have pushed up house prices in London, resulting in a 21% jump in the number of people looking to sell their homes compared with a year ago, and a 4% rise in asking prices since last month, according to a leadingproperty website.

While property prices in the rest of the country are falling, prime areas of the capital are buoyant with more homes appearing in estate agents' windows with higher price tags attached.

February is traditionally bonus time in the City and this year, banks, fund management firms and hedge funds are paying bumper top-ups to their generous salaries. Accountancy firms and City lawyers are also getting pay rises as the stock market recovers and corporations announce strong profits.

 

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