Top end housing doing well

Published: April 04, 2008

The top-end of the UK housing market has yet to be affected by the global credit crunch and it is not clear if it ever will be.

That is according to Prime Location, which said that this end of the market has so far been completely unaffected.

It is good news for people with first-time buyer mortgages who plan to invest in this area.

Louise Hall, business director at Prime Location, said that the sheer amount of money involved in the top end has helped it to avoid any difficulties.

"We still seem to be taking on more and more properties, but that's probably across the board both at the top and mid-end," she commented.

"From talking to key estate agents at the top-end of the market, they still seem to be having a pretty good run of the market at the moment and are getting things onto the books and are selling them.

"At the moment, the credit crunch hasn't had an effect on that very top-end because inevitably, there is a lot of money around there anywhere," added Ms Hall.

The Land Registry recently revealed that house prices stabilised between January and February.