Nervous Europeans Snap Up London Property

Expensive London apartments, valued in pounds, fit the bill nicely.

...

Euro zone buyers have helped push up the average price of a home in the exclusive borough of Kensington and Chelsea to more than £1 million for the first time, put over the top by a 3.6 percent increase in April.

By contrast, the value of a home in England and Wales as a whole declined 0.3 percent in the same month to an average of £160,417.

... the average prime property in central London fetches around six times as much as the average property across Britain as a whole, according to the Fathom Consulting report. That multiple is at a record level, the report says.

"Prices are now far above the level they reached at the height of the bull cycle in 2007, prior to the crash, and in contrast to residential markets in the rest of the U.K. have resisted any major volatility and pricing weakness," the Fathom report says.