London homes with patios are being snapped up at a rapid pace with new research from Benham and Reeves showing that 41% of all patio-equipped properties currently on the market have already gone under offer.
However, just 8% of properties listed in the capital feature a patio, making the search for this desirable feature increasingly competitive.
The analysis of live Zoopla listings found that Waltham Forest has the highest demand, with 64.8% of patio homes already sold subject to contract.
Other boroughs with strong demand include Bexley (58.5%), Sutton (56.9%), Redbridge (55.5%) and Havering (54.1%).
PRIZED ASSETS
Havering also leads in availability, with 19.1% of for-sale stock featuring a patio, followed by Bromley (18.5%) and Hillingdon (15.8%).
At the other end of the spectrum, the City of London has the lowest availability, with patio-equipped homes accounting for just 1.4% of listings.
Tower Hamlets (1.6%) and Newham (2.8%) also rank among the most challenging areas for buyers searching for homes with outdoor space.
ACT DECISIVELY
Marc von Grundherr, Director of Benham and Reeves, says: “Outdoor space continues to be a prized asset among London homebuyers and renters alike, especially during the warmer months and since the Covid pandemic.
“Our analysis highlights how homes with patios are being snapped up at pace, meaning those looking to sell a property complete with a patio should have no problem securing a buyer.
“Of course, with availability varying widely by borough, those hoping to secure a summer-ready home may need to broaden their search or be prepared to act decisively when suitable properties become available.”
