High demand for properties in Little Venice

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Despite the ongoing economic crisis in the Eurozone, property sales in popular areas in and around central London have remained firm, according to leading estate agents Sandfords.

London, February 3, 2012 - (PressReleasePoint) - Despite the ongoing economic crisis in the Eurozone, property sales in popular areas in and around central London have remained firm, according to leading estate agents Sandfords.

The single currency zone has endured a torrid time of late, with countries across the region struggling to cope with mounting debt levels, while the ratings agency Standard and Poor’s has downgraded various eurozone countries.

In stark contrast to the turbulence in the eurozone, the UK’s credit standing is going up, not down, thanks in part to the coalition government’s plan to reduce the deficit.

The property market in London has benefitted as a consequence, with home prices across many parts of the capital having increased in 2011. Many experts even project further room for capital growth this year in popular areas, including southern Maida Vale in west London.

Like many areas on the edge of central London, demand for homes in the southern part of Maida Vale around Paddington Basin, a junction of two canals with many houseboats, known as Little Venice has been particularly strong.

Most Maida Vale estate agents would agree that demand for flats and houses for sale in Little Venice has been fuelled by high net-worth Brits looking to live in this luxurious part of the city.

An influx of capital from some of those nations most at risk of economic meltdown, notably Greece, Italy, Portugal and Ireland, have also made their way to this popular part of London.

High rental demand for flats to rent in Little Venice has also spurred greater activity among buy-to-let investors looking to add a local home to their property portfolio.

But many families relocating from troubled Eurozone countries generally opt for houses to rent in Little Venice, helping to push rental values higher; an attractive proposition for any shrewd property investor.
 
Andrew Ellinas, director of Sandfords, said: "At Sandfords, we believe the crisis in the single currency will not result in the meltdown that some critics predict, but one thing is sure – property in the Sandfords zone of Marylebone, Regent's Park and St John's Wood [which includes Maida Vale and Little Venice] will only appreciate."

He added: "As we move into spring, we expect the market to strengthen as buyers return, attracted by the underlying value of properties in the world's capital city. There's no pessimism here."

For further information about homes in London which are located between Little Venice and Maida vale, or to register your interest, please contact Sandfords on Tel: +44 (0)20 7224 4994 or visit www.sandfords.com.