Rising London house prices 'back at pre-crash levels'

London estate agent Winkworth today said that house prices in some parts of the capital were back at pre-crash levels.

The firm reported price rises of 20 per cent in prime areas in the second half of last year, with some properties worth the same as they were in 2007.

Two thirds of customers in the most expensive parts of London were from overseas as international buyers took advantage of the weak pound.

Winkworth said it beat its revenue targets for last year as growing demand and a shortage of houses for sale pushed up prices.

Dominic Agace, the company's chief executive, said: "After the rapid rebound of property in the second half of 2009 and a good start to 2010, despite the extreme weather, it is clear that there is significant momentum in the market."