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
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
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.