Strong demand for properties in Primrose Hill

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Despite the current economic crises, the housing market still appears to be stable, and with the construction of new homes in London at their lowest level since the 1920s, demand for flats and houses to rent in London as well as to buy is particularly strong at the moment.

London, December 22, 2011 - (PressReleasePoint) - Despite the current economic crises, the housing market still appears to be stable, and with the construction of new homes in London at their lowest level since the 1920s, demand for flats and houses to rent in London as well as to buy is particularly strong at the moment.

The boom in the popularity of houses and flats in prime parts of the capital has been fuelled by a surge in overseas nationals wanting to either buy or rent a home. This is particularly the case with wealthy people from nations most at risk of economic collapse, notably Greece, Italy, Portugal and Ireland.

Family homes in popular parts of the capital are extremely desirable with purchasers and tenants often forced into bidding wars for some of the best homes.

This is evident in the sales and rental markets in Primrose Hill, North West London, with multi-million pound properties often selling within days of being officially launched to the public, due to a chronic shortage of flats and houses for sale in Primrose Hill.

Similarly, there are nowhere near enough flats and houses to rent in Primrose Hill. A housing shortage in both sectors of the market is effectively pushing sale and rental prices in the area significantly higher.
 
The latest report from the Royal Institute of Chartered Surveyors (RICS) shows that the national average rental yield increased for the seventh consecutive month in December 2011, mainly due to a lack of residential properties.

Andrew Ellinas, Director of Sandfords, says that he is confident that the property market in Primrose Hill and its surrounding areas will hold up well in 2012

He comments: "The capital continues to soar away and outperform the wider UK property market and is seen as the world's safest haven for bricks and mortar. An acute stock shortage and unprecedented buyer demand in prime areas is helping to underpin prices."

Primrose Hill is renowned for offering a wide selection of quality homes and the area benefits from an enviable position close to a range of excellent schools. Additionally, it also has easy access to central London and beyond. All of this makes Primrose Hill extremely attractive to buyers and tenants.

For further information about homes in London which are located between Primrose Hill and Oxford Street, or to register your interest, please contact Sandfords on Tel: +44 (0)20 7723 9988 or visit the website: www.sandfords.com