Thomas Tait was among dozens of people evacuated from their properties after two water mains burst in Belsize Road at about 02:50 GMT on Saturday.
About 100 homes in South Hampstead were affected by "significant" flooding.
A deli worker in Belsize Road said it was a "nightmare scenario" and their busiest trading week had been "ruined".
About 60 firefighters were called to South Hampstead when homes were deluged with about 50cm (1.6ft) of water.
London Fire Brigade (LFB) said 24 people were led to safety, while thousands of houses were left without water.
Video footage on social media shows firefighters evacuating residents in the flood, including people in pyjamas carrying pets.
"We haven't even unpacked our things from the boxes," he continued.
"We didn't have time to get contents insurance so all of our earthly belongings are gone.
"It's pretty much a lifetime of collecting personal memories that are now destroyed," Mr Tait added.
Saud Kurhasani works at Green Village Deli in Belsize Road.
"When I arrived, it virtually was a river running down the road," he told BBC London.
"It has been a nightmare scenario for us," he continued.
Mr Kurhasani said the electricity in the deli was cut out by the water which means the shop cannot operate.
"This was meant to be our week where we do most business and it has been ruined completely," he said.
"I feel for our neighbours who have had their flats completely flooded and had to be evacuated.
"Happy holidays... not very happy," he added.
Thames Water apologised to those who had little or no water and said the majority of customers should now have their supply back.
A spokeswoman said support was being provided for residents in Belsize Road and loss adjustors were onsite to assess the damage.