London Luxury-Home Prices to Climb 6% This Year on Pound

Central London luxury-home values will jump 6 percent this year, Knight Frank LLP said, revising an estimate that prices would be little changed as a weakening pound made the market more attractive to overseas buyers.

The average price of a house or apartment in the city’s most expensive neighborhoods has climbed 4.2 percent this year and interest among prospective buyers remains strong, the London-based broker said in a report today. The pound fell about 5 percent against the euro in the first half and lost 7.9 percent against the Chinese yuan.