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Marc Da Silva reports that although properties for sale in central London– houses and apartments for sale in central London – continue to appeal to buyers, many home hunters are turning their attention to searching properties for sale in North West London.

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Marc Da Silva

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020 7224 4994

Web Site

www.sandfords.com/

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London's 'safe haven' status among investors has long made it a wealth magnet for overseas investment, which explains why so many foreign buyers are eying properties for sale in central London.

The capital's rich history, culture, world class shopping facilities, political stability, reliable legal system, not to mention excellent schools and universities, have all helped to attract wealthy overseas investors, especially as far as property is concerned. Furthermore, the weak British currency, sterling, has actually made houses and apartments for sale in central Londonrelatively cheaper for some foreign buyers, particularly those from Asia.

Compared to the price peak in the third quarter of 2007, purchasers from the Far East are now benefitting from price discounts of as much as 60 per cent, as a result of the weakened sterling currency.

Consequently, Asian buyers from Singapore, Hong Kong, Malaysia and China are among the most active overseas purchasers of homes in London.

But while many international - as well as domestic - buyers favour buying property in central London, leading estate agents, Sandfords, has noted a growing trend of purchasers targeting properties for sale in North West London, where buyers can generally get better value for money homes.

The hike in demand for homes in highly desirable areas like St John's Wood, Primrose Hill and Maida Vale is helping to push property prices in these areas higher.

Andrew Ellinas, Director of Sandfords, comments: "The success of the prime central London property market over the last five years is creating a wave of price rises in nearby areas as people move further afield in search of value. Areas such as St John's Wood, Primrose Hill and Maida Vale, traditionally regarded as outside the prime central London zone, are now developing into an 'outer prime London' market."

Sandfords estimate that homes in outer prime London will increase in value by as much as 6.5 per cent annually by 2015, better than the more modest but sustained growth predicted in prime central London for the next couple of years.

A side from a strong level of capital growth, market experts are predicting a steady rise in rental values in North West London, thanks to high demand and relatively low supply, creating fresh investment opportunities for investors in the process.

For further information, please contact Sandfords

www.sandfords.com

Tel: +44 (0)20 7224 4994 Fax: +44 (0)20 7224 4989