Property hotspots for young professionals

Fulham, in South West London, has topped a poll of the UK’s most desirable areas for young professionals. The research, carried out by Lloyds TSB, found that SW London post codes had the biggest draw for the city’s workers, despite property prices surpassing the quarter of a million mark.

 

 

2 Bedroom Flat SW10

Average property prices in Fulham stand at £782,588, while in second-ranking Wimbledon average properties are an average of £476,123.

The next three places in the league table were occupied by Wandsworth (£489,157), Battersea (£608,342) and Hove (£316,747).

Streatham proved to be the least popular area in the Top 20, as well as being the cheapest with average property prices standing at £256,359. “The typical profile of young professionals is that they tend to have university qualifications, are in well paid occupations and like to take full advantage of living in or close to the city, either for work or leisure purposes,” said Suren Thiru, Housing Economist at Lloyds TSB.

Streatham Hill Semi

“Our analysis certainly suggests this to be the case with Fulham as the leading hot spot for young aspiring urbanites.”

Outside of London, Jesmond in Newcastle proved to be one of the most popular with young professionals, closely followed by Didsbury in Manchester.

Cardiff in Wales took the last spot and also proved to be the only region in the research where buyers can snap up a property for under £200,000. The research also revealed that young professionals are prepared to pay a premium to live in the most sought-after areas.

Compared to London as a whole, workers that choose to live in Wimbledon and Wandsworth pay a 40% premium.

Quayside flat Newcastle

This figure is even higher for young professionals in Didsbury, where the premium is 56% compared to Manchester as a whole.

avatar
Posted by: WarrenWilson Categories: Architecture and Design, Buying, Estate Agents, Selling Tags: , , , 3 Comments

3 Responses to Property hotspots for young professionals

  1. avatar Andrei says:

    I took the plunge & bought a small flat in the Streatham area last month. Twenty minutes to either London bridge or Victoria on the train or 15 minutes by car. NIce flat at a good BMV price.

  2. avatar Evan Gilbert says:

    Interesting figures! It is a world away from the problems that face the majority of home owners and potential buyers. I could only dream of being able to afford a 2 bed at over 500K!!

  3. Fulham is a nice area and it is affordable, besides it has some nice bars which would certainly attract younger guys..