Property prices in the most sought-after areas of London are increasing again. Estate agency Knight Frank said prices in the prime central London area rose by 0.4% in February, the first such rise in six months.

The most ‘popular’ areas for completed property deals were Canary Wharf in the east and Kensington in the west. St John’s Wood in north-west London was also a strong performer.

“This news may seem a bit remote to the majority of us who don’t earn mega-bonuses in the City or have the chief executive of a high street bank for a father,” said mortgage broker John Cornell.

“However, on a serious note, increased confidence in central London means that the national property market should benefit from a ‘trickle-down’ effect and I think we will see modest increases across the board this year.”