18 Apr

Professionals pay property premium

Professionals pay property premium

Young professionals are paying an extra £71,000 to live in the most 20 popular areas of the UK, claims new research.

A study by Lloyds Bank revealed the average price of a home in the 20 popular postal districts is £735,874 compared to £664,716 in other regions.

It was revealed the most popular location among young professionals remains the BN3 area of Hove for the third year in a row, followed by Wandsworth and Wimbledon in London.

Overall, of the top 20 top areas, 16 are located in Greater London and show the desire of many young homeowners to live close to the capital.

“Aspiring young professionals are typically well qualified, in well paid jobs and tend to live in areas not far from the city centre where they work,” said Lloyds Bank mortgage products director Andrew Mason.

“These are also places where they can enjoy easy access to green space and a range of places to socialise. These buyers also don’t appear to be put off by the significant premium in price to live in areas popular with young professionals.”ADNFCR-1222-ID-801834772-ADNFCR

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