London Luxury-Home Prices Rise on Lower-Taxed Property

Luxury-home prices in central London rose at their fastest rate in three months in September, powered by demand for properties that escape a new higher rate of sales tax, Knight Frank LLP said.

The average value of a house or apartment in the U.K. capital’s most expensive neighborhoods climbed 0.7 percent from August, according to an index compiled by the London-based broker. The annual increase was 10 percent compared with a 13-month low of 9.9 percent in August.