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