Christopher Roupell of Winkworth says the impact will be considerable. “Until recently prices were depressed by the presence of budget hotels but residents within the garden square may see the value of their property rise by up to 10 per cent and those living on the same terrace by as much as 20 per cent.”The story is similar in the Paddington area, already undergoing development. Owners of hostels and hotels are being tempted into selling to developers who are making generous offers, knowing that they can still see a healthy return on their investment.Even though investors from the Far East are thin on the ground these days, the ex-pats are a pretty demanding group. This could be a good time to seek out those shabby, down-at-heel London streets where the odd person can often be found sitting disconsolately on the steps of a once-smart house. If someone is looking for or offering a flat share, Switchboard does discreet vetting before issuing details.

Stonewall Housing Association also certainly considers security and discretion.”Gay men tend to regard London as too sprawling and diverse to allow any one particular area to be predominantly or recognisably gay. But gays clearly feel most at home in such areas as Brixton, Islington, Camden, Hampstead, Earl’s Court, Soho and Richmond, and parts of Wimbledon, Stoke Newington and Rotherhithe.If there is a trend, it seems to be less in “ghettoising” a specific location than in preferring certain types of housing, namely converted warehouses and offices “The first problem is price. Rich gays go somewhere stylish, like a loft area,” says Mr Coote. “Obviously there are gay people everywhere,” says Stephen Coote, publisher of the Gay to Z Directory. He thinks that his section of London is gay, “but I’m not sure if that is because it is a gay area, or because I know a lot of gays.”Mr Coote notes that “some letting agencies specialise in gay housing, and Switchboard, a voluntary organisation, provides safe flat-sharing. It had to have a roof terrace; Marco’s passion is plants.”They found a converted office block, made an offer, and were promptly gazumped “That was on a Saturday.

We made the rounds of estate agents, picked up particulars, drove around on Sunday and viewed the buildings from the outside,” says David, who is finance co-ordinator with Rubber Stuffers, a charity dedicated to HIV prevention.Of the seven flats in the block, only one had the necessary condition of being attached to the roof. They made an immediate offer, and are hoping to complete a week after exchanging contracts.A proud Mr Carvosso proclaims that “David and Marco found a queens’ paradise Everyone is looking for fairy castles, unusual properties. It’s not that easy in London.”Gay communities are prominent in Brighton, Bath, Bristol and Manchester and, as gays know, in many other areas. “With a gay broker, you can talk openly and mention risk factors on a sympathetic and understanding basis. My clients can be pierced or shaved, and they don’t get the tongue- in-cheek attitude, as with a straight adviser.”Gay IFAs can also work financial wonders that are denied to their straight counterparts. Mr Carvosso did indeed get a better mortgage for David and Marco, who were renting an attic flat complete with roof garden in north London.”We tried to buy the flat so that we could open it out and make it loft- like,” says David.