Map shows the five property hotspots on the fringes of London
Homebuyers wanting to know which postcodes are most desirable, listen up.
Knowing where to buy in this market can be hard, but market analysts at Propcast have narrowed it down to five key areas in and around the capital to look into.
Their data shows London’s edges are popular right now, with locations outside of Zone 2 being key, as people are more willing to commute for longer and get better value on their properties.
On the other end of the scale, the five areas where homes are least likely to sell right now are all within Zone 1.
Marc von Grundherr, managing director of estate agents Benham and Reeves, said many home hunters want to be at a commutable distance to the centre of London, but remain on the edge of the city.
He said: ‘The pandemic-inspired exodus of London buyers has been cooling for some time and it’s fair to say that the novelty has worn off, with this ripple effect of market activity now in reverse.
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‘This has been driven by a return to normality, both socially and within the workplace, with many buyers now keen to return to the convenience that London living provides.’
London’s five hottest property markets
The five coldest property markets in the capital
EC2, the City
SW7, South Kensington
EC4, St Paul’s
‘Of course, while the current economic picture is far better than many predicted, the high cost of home ownership, along with the increased cost of borrowing, is still having an influence on where this interest is currently being focussed,’ he added.
‘As a result, it is the slightly more peripheral areas of the capital, particularly to the east, that are seeing the highest levels of market activity due to the more affordable property values they offer.’
With the cost of living crisis, Matt Thompson, head of sales at Chestertons estate agency, said buyers are looking at areas that might have previously been less desired, but now have better travel options with the expansion of Crossrail and the Elizabeth Line.
The outer edges are were it’s at right not, according to the experts.
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