West London propery prices continue to boom
House prices remain steady for many West London areas
Whilst the UK in general has seen a steady downturn in property prices, West London house prices have yet to see a noticeable drop. With many cash buyers out there looking to move cash into bricks and mortar investments, the more desirable areas in West London are seeing no shortage of eager buyers with many West London areas holding strong. Some properties in the more desirable areas in London like Kensington, Chelsea and Chiswick are selling for far more than property experts have predicted with a large property in Grove Park, Chiswick recently going for record amount and multi million pound apartments in Kensington and Notting Hill being bought up by wealthy over-seas investors. Property prices in the most desirable locations remain unaffected by the current economic conditions.
A number of West London based estate agents have a waiting list of buyers and many new properties don’t even make it to being listed on their board or websites before being snapped up. Other factors including wealthy foreign property investors and the desire to buy within catchment areas of the most sought-after schools are helping to create demand for quality properties in areas such as Fulham and Chiswick.
Europe’s rising inflation rates and the subsequent increase in the European central banks base rate have also assisted in the growth in demand for new buyers registering with estate agents looking for the most desirable London real estate. Foreign investors concerned with the current world-wide economic and political volatility see London as a solid area of investment in property.
The most expensive London areas to buy or rent in
Below are some of London’s most desirable (and expensive) areas to live in. Figures correct as of April 2011.
London W1 (central)
Central London has always been expensive, the desire for central London office location is driving W1 property prices through the roof right now.
SW1 (Westminster), W2 (Paddington), W8 (Kensington), WC2 (Covent Garden) SW3 (Chelsea)
Fashionable apartments around the central London area are demanding record figures mainly from increased overseas investors.
W4 (Chiswick), SW6 (Fulham), TW9 (Richmond)
Popular with families seeking good schools and commutable distances from Central London
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