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First-time Buyers

Hove top location for aspiring Brits

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
19/06/2015

Hove and Brighton on the south coast of England are among the top places 25-44-year-olds aspire to live.

Research by Lloyds Bank found that Hove’s BN3 postcode area was the top property hotspot for young people in England and Wales.

Neighbouring Brighton also featured in the top five, suggesting this part of the country was drawing people from elsewhere.

The bank said its proximity to London and independent culture had contributed to its popularity.

London also remained a popular destination with 35% of the capital’s population aged between 25 and 44. In total 16 of the top 20 areas were in London, with nine in south and west London.

Wimbledon – which was the leading property hotspot last year, Wandsworth, Battersea, Streatham and Fulham all ranked highly.

Outside of southern England the area of Didsbury in Greater Manchester was the most popular location and the only one to break into the top 20.

However, in Didsbury young professionals typically paid an average premium of 59% compared with the rest of Manchester – £239,734 against £150,751.

Jesmond in Newcastle, Ilkley in West Yorkshire, Clifton in Bristol and Harborne in Birmingham were the respective leaders in other areas of the country.

Andy Hulme, mortgages director at Lloyds Bank, said: “The most popular areas for young professionals tend to be dominated by trendy locations in London.

“Whilst this is still the case, this year our report reveals the ascendency of Brighton and Hove as two of the leading property hotspots for this group of buyers.

“Unlike many of the other areas in the survey, Brighton and Hove have the attraction of being by the sea with some outstanding beach front properties and, with average property prices here 38% (or £199,000) lower than London yet still being within commuting distance, it’s easy to see the desirability of living there.”


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