Rich property buyers 'keeping London attractive'
Foreign property investors are propping up London's housing market by fuelling constant demand for luxury estates, it has been suggested.
The Times is reporting that demand is so strong among rich investors - also including city bosses - that most mid-range property hunters have now been forced out of large swathes of the capital.
Top-end investors have long been the mainstay of traditionally fashionable areas such as Knightsbridge, Belgravia and Chelsea - but according to analysts they are now also driving up the market in many of London's more suburban areas.
These include areas formerly regarded as being within reach of most mid-range prospective homeowners, including hotspots such as Chiswick, Clapham and Islington.
Despite the surge in demand, however, the Times suggests that savvy property hunters on lower budgets will moderate their standards and seek out less desirable areas as the capital's overwhelming pulling power continues to buoy demand.
Estate Agent Savills today reported that prime London property fell two per cent in 2007 Q4 in line with the national property slowdown, though it predicted growth would pick up quickly in 2008.
Published 3rd January, 2008
© 2008 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Foreign property investors are propping up London's housing market by fuelling constant demand for luxury estates, it has been suggested.