Top London homes show more gains

Prices for London's best homes have risen for an unprecedented 10 quarters in a row but the estate agent Savills claims the market is in no danger of overheating.

The agent's prime London index – covering homes with an average price of £4m – is showing "modest" price growth of 17.6 per cent since the end of 2010.

In the overall London market, prices have risen 2.2 per cent in the past three months, picking up from a much slower 0.8 per cent advance in the final quarter of 2012, to stand 4.7 per cent higher over the past year.