Liam Bailey

Super-prime new homes in London are expected to achieve record values of up to £10,000 sq ft within the next five years, fuelled by an influx of wealthy overseas investors and lack of housing supply, according to Knight Frank.

The recent boom in prime central London property prices has benefitted homes in premium locations like Mayfair, Chelsea and Knightsbridge, with prices rising from £1,000 sq ft in 2000 to over £7,500 sq ft, as achieved for new build apartments at One Hyde Park - believed to be the most expensive price for any home in the world.

Property prices in prime central London are expected to continue rising next year, according to the latest forecast from estate agent Knight Frank.

A planning application submitted by GC Campden Hill for the construction of luxurious new homes in Holland Park, west central London, has been given the go-ahead by Royal Borough of Kensington and Chelsea councillors.

The latest data released today by property consultant Knight Frank shows that high end residential property prices in prime central London fell for the fourth consecutive month in October.

The 0.2% reversal in property prices in areas such as Belgravia, Chelsea, and Knightsbridge means that average residential prices in that region are now 1% below June.

Prime London property prices continued to fall in August, but at a much slower pace in relation to July, according to the latest Knight Frank Prime Central London Index.

The UK holiday home market has been one of the strongest performing property sectors through the recession and now into the recovery, according to Knight Frank's new-build second homes report 2010.

New build homes in the UK aimed at the holiday home market continues to attract strong demand from second home hunters.

Prime Central London property prices increased in May by 1.4%, the fourteenth consecutive monthly rise, fuelled by greater residential demand among overseas nationals, led by 112% growth in Russian applicants in the last two months.

The Knight Frank Prime Central London Residential Index for May 2010 shows that prices are now 23% higher than they were at the bottom of the market in March last year, but still remain 6.4% below the March 2008 market peak.

Residential development land values in England increased at the strongest rate of growth since 2005, on the back of greater demand, according to the Knight Frank Residential Development Land Index, released today.

The average price of land in England, which is suitable for the construction of new build homes, appreciated by 11.5% in the 12 months to the end of March 2010.

Prime London home prices increased by 1.3% in April and are now 21% higher than at the bottom of the market in March 2009, according to the latest Knight Frank Prime Central London Residential Index April 2010.

The Knight Frank Report shows that the volume of prime London properties sold increased in April, up 18% year-on-year, but dropped by 23% on a month-on-month basis, largely due to the uncertain outcome of today's general election.

The average price of a residential property appreciated by a staggering 20% in the 12 months to March 2009, according to the latest Knight Frank prime central London property price report.

The index shows that the central London residential property price growth has not been evenly spread, with the strongest growth witnessed in the low to mid end of the market, especially sub-£2.5m, up 23% between March 2009 and the corresponding month in 2010.

Homes in the more expensive price brackets (£5m+) rose at an average rate of 17% during the same period.