Luxury-Home Prices in London Climb as Purchasers Try to Beat Tax Increase

"The average value of a residence costing more than 1 million pounds ($1.6 million) rose 2 percent from the previous three months, according to an index compiled by London-based property broker Savills Plc. Prices climbed 3.3 percent from a year earlier and are 6.2 percent below the peak in the third quarter of 2007."