London Borough Of Camden House Prices
Author: Priyesh Vaghjiani
The London Borough of Camden has been one of the more affluent
boroughs in London and therefore has come with a price.
Comparing house prices in the London borough of Camden with
other areas of London, there is generally quite a noticeable
difference. However, there are other boroughs in London that
have the same affluence such as the Chelsea and Kensington
areas.
Boroughs such as Camden, Chelsea and Kensington have over the
passed few decades have attracted a vast array of interest.
Walking the streets in these boroughs, you may bump into some
famous celebrities such as Kate Winslet, Hugh Grant and Chris
Evans. There is also a great deal of wealthy people walking the
streets donned with designer labels, driving nice cars and
enjoying a lifestyle that many can't.
With all this attraction from the wealthier end of the spectrum
clearly has an affect on the house prices. For the past few
decades, the house prices in these areas have only been
increasing. This is far to say for most of the boroughs in
London as the economy has been booming for most of that time,
however, the increase in the London Borough of Camden has been
phenomenally more than some of the various other areas of
London.
Ten years ago in the London Borough of Camden, the average
price of a two bed flat was £100,000; now the average price of a
property of this type is in the £300,000 bracket. There are
specific areas in the London Borough of Camden that fetch higher
prices than other areas. For example, a two bed flat in
Hampstead will be more around the £350,000 mark while a similar
property in Kilburn would be coming up to the £300,000 mark.
In boroughs where the housing prices continuously soar also
attracts foreign investment. Many wealthy folk in countries such
as Russia, China and the Arabian countries see the London
housing market as a very sensible investment. This further
increases house prices are many international owners buy houses
or flats for the longer term investment therefore reducing the
supply of property while demand is continuing to increase.
London boroughs such as Camden have become a popular area for
young professionals to begin their life after university due to
the many bars, restaurants, amenities and the close proximity to
central London. This is another reason for the house prices
increasing as the demand is increasing.
Recent changes in the financial market have meant that the
economy has taken a slight downturn. Usually in times like
these, house prices are the first to decrease as buyers are more
reluctant to buy thus demand is decreasing but sellers still
want to sell so supply is the same.
Britain's house prices as a whole has been affected by the
economic change, with house prices in the north of England
significantly decreasing. London felt this downturn also with
many London boroughs seeing decreases in their house prices.
However, the London borough of Camden is one of the few areas
that hasn't been affected greatly by the economic change.
Of course, the house prices haven't increased the way they have
in the past but they haven't really decreased either. This is
because demand for living in this area is still high and the
additional foreign interest means that demand will be higher
than supply resulting in higher house prices than most of
London.
About The Author: Priyesh Vaghjiani - CityLocal Camden
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