It’s often said that people are doing all they can to escape the capital, because of the high house prices, hustle and bustle and overcrowding on the Tube, but new research has revealed that more than half of Greater London home buyers (57%) are happy to stay put in the UK’s largest city.
The research, carried out by mover conveyancing firm My Home Move, found that the boroughs of Kingston-upon-Thames and Croydon were the most popular to move to for those buyers opting to stay within the capital.
All areas within these two boroughs are zone 5 and 6 locations that have been selected for regeneration.
The research examined the home-moving habits of 26,000 people over a five-year period. It found that homeowners in Watford, Twickenham and Croydon showed the most loyalty to their postcodes, deciding to benefit from staying local by purchasing new homes in their current neighbourhoods.
London’s importance from a cultural, social, economic, literary and world affairs point of view make it one of the most in-demand cities in the world for people to live in. Increasingly, though, people are looking away from the centre of the city for more affordable house prices.
In places like Stoke Newington, for example, you can get more home for your money, and still benefit from fast, frequent and convenient transport links to the centre, west, east and south of London.
Stoke Newington has a number of Overground stations nearby (Stoke Newington, Rectory Road, Dalston Kingsland, Hackney Downs and Canonbury), while Manor House (on the Piccadilly Line) is also conveniently located.
This means you can get away from the fast-paced chaos of Central London, enjoying the greenery of Clissold Park and Hackney Downs and the trendy pubs, bars and restaurants of Church Street, while also being an easy commute away from work and all that the capital has to offer.
Up-and-coming locations with good transport links – of which Stokey is one – are the choice for savvy Londoners who want to stay in London but who also want to find a home that is affordable and gives them more for their money than a property in a prime central spot.
For sellers, too, the above findings represent good news. The pool of potential buyers for a home in London is always high, for the reasons outlined above.
It’s one of the biggest, greatest and most-visited cities in the world, so it stands to reason that many people would want to experience living there.
But, added to this, there are plenty of people in London – tenants looking to become first-time buyers, downsizers, those moving from a starter home to a bigger one, buy-to-let investors, landlords looking to expand their portfolio, etc – who are eager to stay in London as well.
Therefore, there won’t just be demand from outside London but from within it as well.
One thing is for sure, you shouldn’t have too much difficulty attracting interest in your London property.
If you carry out all the correct steps – marketing your property in the right way and making sure it as seen by as large an audience as possible – you should have no issues in getting your asking price or above for your home.
Here at Location Location, Stoke Newington’s premier estate and letting agent, we’ll do all we can to help sell your property.
For more information about what we offer, please get in contact with us on 020 7923 9222.