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TODAY'S OTHER NEWS

Revealed - The top London boroughs homebuyers are flocking to

London lettings and estate agent, Benham and Reeves, recently revealed which boroughs in the capital have the highest levels of homebuyer demand. 

Residential transaction data from the Land Registry was analysed to underline which areas in London had the largest uplift in property transactions over the last year. 

Boroughs with the largest level of activity of London property sales were recorded as a percentage.

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Most popular boroughs for London homebuyers

The London borough of Bromley had the largest level of market activity, as these totalled 5.5% of London transactions in 2021. 

With 5.1% of all London transactions taking place, Wandsworth tailed behind closely, While the borough of Croydon accounted for 5% of total transactions. 

Additional boroughs that experienced large levels of buyer activity last year include Barnet (4.4%), Havering (4.4%), Lambeth (4%), Hillingdon, Bexley, Enfield, Ealing, and Lewisham (3.5%). 

London boroughs with the highest increase in transactions

The research shows that in 2021 84,000 homes sold across London and these transaction levels have remained. 

Redbridge had the highest increase in transactions during 2021 compared to 2020. The popular borough in East London experienced around 17% more transactions.

Havering and Enfield had an increase of 13.9%, Merton increased by 13.7% and Kingston increased by 12.8%.

Director of Benham and Reeves, Marc von Grundherr, concludes: “The London market has been quietly ticking over while the rest of the UK has been booming, but it certainly looks as though 2022 is the year it regains its place at the forefront of the property market. The latest data from Halifax shows that the rate of London house price growth double between December and January and so there are clear signs the market is back on the up.”

“A number of boroughs have already jumped the gun with this return to form, enjoying a considerable uplift in transactional volume in 2021 when compared to the previous year. What is interesting is that we usually see this stronger performance originate in the inner London market and move its way outward.”

“However, the impact of the pandemic remains clear with the majority of market activity remaining largely focussed around the capital’s peripheral boroughs, with this activity starting to move slowly back towards the centre of the capital.”

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