London Luxury-Home Prices Gain as Foreigners Seek Safe Haven

Luxury-home prices in central London gained for a 14th consecutive month in December as overseas buyers sought safer investments and competed for a smaller number of properties for sale, Knight Frank LLP said.

Values of houses and apartments costing an average of 3.7 million pounds ($5.7 million) rose by an average of 0.8 percent from a month earlier, the London-based broker said in a report today. Prices are 7 percent higher the previous peak in March 2008.