Facebook & Google Cause House Price Rises London & California?

Living near the headquarters of Google and Facebook is great for real estate prices and London could well be in for the same “Silicon Valley effect” on its house prices.

Living in the vicinity of the area dubbed Silicon Valley in California has meant that real estate prices increasing above the national average. The surrounding area of Silicon Valley which is situated in the southern part of the San Francisco Bay Area in Northern California is now home to numerous internet millionaires.

The area has seen real estate prices leap by on average price 20% for family home. Realtors from the area link this directly linked to the expansion of companies such as Google. The mini boom seems set to continue with rumors of Facebook floatation which is expected to set its valuation at $100bn. The property boom in the Bay area is in stark contrast to the rest of the US, where prices are falling sending valuations to an eight-year low point.

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