Property wealth management up as 'quality commands a premium'?

Wealth management through property speculation could enjoy a resurgence in popularity, as one expert notes: "Quality does and always will command a premium."

For those with private wealth, this suggests the purchase of high-end real estate will offer good returns now and in the future, according to Hugh Best, head of investment management at London Central Portfolio.

He reveals prime London areas such as Westminster, Kensington and Chelsea are "way ahead" in terms of long-term growth trends, increasing between 9.3 and 10.7 per cent, compared with a yearly mean appreciation of 8.5 per cent across the whole city.

With investment options potentially becoming more varied in the wake of the recession, Britons may have turned elsewhere for wealth management, but the expert advises "demand continues to outweigh supply" in this case.

Last week, Halifax revealed the number of million-pound property sales more than doubled in the last 12 months, up 118 per cent compared with the same period last year, a significantly higher figure than the 27 per cent rise in total house sales.  ADNFCR-2318-ID-800208284-ADNFCR