People looking to invest in property in London should understand that it is a long-term strategy, London Central Portfolio (LCP) has advised.

Naomi Heaton, chief executive at LCP, said: "It is about 'time in' rather than 'timing' and [we] would anticipate that over the next five years prices could rise on average between 8.2 per cent to 10.8 per cent per annum, based on long-term trends."

This was based, she explained, on the rationale that since 1995, the average growth up to the credit crunch of 2008 was nine per cent per annum, which was the equivalent of a doubling of value every eight years.

"Including the downturn during the credit crunch, prices from 1995 to date have increased on average by 8.2 per cent," Ms Heaton said.

"There is no reason, given the turbulent times that this has incorporated, not to expect this to continue over a further five year period."
She explained that if, over the next five years, price growth led to a return to pre-credit crunch price trends, there would be a "catch up" in growth of 10.8 per cent on average until 2017.

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