Prime property 'surviving credit crunch'
Prime property in London rebounded at the end of 2007, allowing property sales and rental accommodation to return to the early year boom in value, according to The Telegraph.
Citing sales of exclusive top-end property in sought-after West London areas, the newspaper claimed that the willingness of the super-rich to return to high value property purchases signalled a recovery of the prime housing market.
An entrepreneur paid £12.1 million, it was claimed, for a house in Holland Park, an exclusive and sought-after neighbourhood in the borough of Kensington and Chelsea, envied for its access to Notting Hill and other popular West London enclaves.
Also highlighted was the purchase of a building in Earls Court, yet to be refurbished as a single property, for as much as £11 million.
Signs of a recovery of prime property sales and rental in exclusive areas come as a relief to the housing market in the capital, which has looked set to suffer more than any at the hands of the credit crunch and reduced mortgage lending.
The Telegraph affirmed that top locations had proven their durable appeal and had been resistant to any drop-off, even as lending proved more difficult.
Published 7th January, 2008
© 2008 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Streatham town centre to be improved by BID?
Major improvements could be made to Streatham town centre thanks to a new business partnership.
Read Article ... Published on 25th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
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
Prime property in London rebounded at the end of 2007, allowing property sales and rental accommodation to return to the early year boom in value, according to the Telegraph.