Knight Frank: London and south-east will be strongest property markets

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Knight Frank: London and south-east will be strongest property markets

London and the south-east will have the strongest property markets over the next few years, an estate agent has predicted.

Liam Bailey of Knight Frank said that the "weight of demand" in such areas would keep the markets strong.

Scotland will remain "resilient", as it does not suffer "the same boom and bust conditions…that you get in the rest of the UK".

Outside of there, he said, "most other markets will see further price falls - pretty much everywhere".

Mr Bailey said the worst hit markets would be in the north and midlands, where lower income earners have "stretched themselves" to get on to the property ladder.

House prices are now 34 per cent higher than they were five years ago, according to the Halifax House Price Index.

They fell by 1.7 per cent in July, having previously fallen by 2.5 per cent in May and 1.9 per cent in June.

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