As the viral ‘London banana’ map continues to stir debate over the capital’s most desirable areas, new data from Rightmove reveals the top ten most in-demand London hotspots.
The banana may be appealing but the real action is happening outside the peel, with eight out of 10 hotspots falling outside the banana zone – a curved corridor of highly desirable areas stretching from South West to North East London.
Affordability could be a key factor. Seven of the ten hotspots have average asking prices below the London average of £666,983, suggesting buyers are prioritising value alongside location.
Islington in North London and Battersea in Wandsworth are the only two hotspots located in the banana zone.
BUYER OPPORTUNITY
The top three most in-demand neighbourhoods outside the peel are Docklands and Hackney in East London, followed by Sutton in the South.
Colleen Babcock, Rightmove’s property expert, says: “While the viral banana map has captured imaginations, our recent data shows that buyers are drawn to areas outside its curve. Affordability is a key driver, with many of the most in-demand locations offering better value than the London average.
“It’s a reminder that buyer interest doesn’t always follow the trend, it follows the opportunity.”
INFLATED PRICES
Mary-Lou Press, President of NAEA Propertymark (National Association of Estate Agents), adds: “Affordability is a key driver for buyers, especially given the current economic climate, and with stamp duty having risen across England and Northern Ireland, this is testing even more people’s finances.
“Buyers are moving outside of busier towns and cities across many areas in the UK, and London is no different.
“However, its inflated house prices cause it to be more prevalent and amplify the need for buyers to offer more consideration and flexibility to their home moves in order to find a more affordable place to nest.”
