Smaller flats in London being sold quickly

- Under offer within a week, a one bedroom flat in Cambridge Gardens at £349,950


Indicative of the strength of the sales market for smaller flats, this one bedroom flat or sale in Cambridge Gardens, W10 is firmly under offer within a week of coming to the market. Mark Somerville, manager of Chard's Notting Hill estate agents office in Notting Hill Gate says it's demand from both first time buyers and buy to let investors that is keeping the market firm. "Few buyers in Notting Hill need mortgages over 70% loan to value so they are relatively unaffected by the credit crunch that's paralysing the market outside London. Chard has thousands of landlords on its books so we've always got buy to let landlords looking to expand their portfolios and many of them see now as a good time to buy".

Our Notting Hill & Kensington lettings team in Campden Hill report that rental demand is outstripping supply for affordable one and two bedroom flats. This is having a positive effect on the sales market too.

Mark goes on - "The bottom line is people want to live in Notting Hill and North Kensington so they will either buy or rent. They've got to live somewhere. Gold plated locations like Kensington, Holland Park and Notting Hill operate as micro markets independant of the rest of the country".