Market analysts PropCast recently found that there has been an increase in homebuyer activity in London. This is because lockdown leavers are coming back to the city to find the best of both worlds. As one of the top experts for guaranteed rent in London, we want to have a look at the situation and explore the hotspots.

The ten hottest property markets in London were outside Zone 2. Buyers are willing to put up with longer commutes for countryside access. In addition, they want superior value housing to what they can find in inner areas. Incidentally, the five spots where homes were less likely to sell were in Zone 1’s tight inner London districts.

Reversing the pandemic trend

Many individuals who left London during the height of the pandemic were aiming to re-establish themselves in the city. They want to do this without losing the advantages of the commuter belt, such as green space and larger homes.

The pandemic-inspired exodus has been cooling for some time. It is safe to say the novelty has worn off due to the ripple effect of market activity now being in reverse. This has come about due to a return to normality, both within the workplace and socially. Various buyers are now looking to go back to the convenience of living in the city.

It is true that the present economic conditions are better than what many were predicting. However, the massive cost of buying a home and increases in borrowing rates are still affecting where people are looking to live. So, again it is the slightly more peripheral parts of London that are experiencing the biggest levels of market activity. This is thanks to the more affordable house values on offer.

The hottest property markets

London’s five hottest property markets are DA18 Belvedere, RM7 Romford, RM9 Dagenham, E11 Wanstead, and SM5 Carshalton.

DA18 in south-east London had the highest level of listed properties sold or under offer in February. This was according to Propcast’s analysis. RM9 and RM7 had the next highest figures of homes under offer or sold. Speak to us if you need the best services for guaranteed rent London has.

Fourteen areas had an increase in buyer demand during February if you compare to January. This includes Greenford to the north-east and Chislehurst in the south-east.

Love for south London

There were a few postcodes south of the river that were rated as hot markets by Propcast in February. Joining DA18 and SM5 were Thamemead (SE28) and Couldson (CR5).

South-east London’s property market typically gets hotter. This is because it tends to provide more affordable housing if you compare to central London. It also has a considerable number of amenities. They include Peckham Rye, Dulwich Park, and Greenwich Park.

The City of London (EC2) and Soho (W1) had the coldest markets in February. As many as 9 in 10 properties did not get acceptable offers. The three other coldest markets were SW7 South Kensington, EC4 St Paul’s, and SW3 Chelsea.

Changing demands

A lot of buyers have been altering their budgets due to the cost of living crisis. Thus, many are contemplating moving to the capital’s outer neighbourhoods. They present a wonderful alternative to inner-city locales.

Something else that is increasingly driving demand for outer areas is ongoing infrastructure investments. A good example is the Elizabeth Line. It has considerably extended the search radius for many house hunters. The extensions of the Northern Line and London Overground have also increased the appeal of districts that used to be less connected.

We work with many property types to offer guaranteed rent in London

At Guaranteed Rent, we provide services that work for all kinds of investors and landlords. Our team has the flexibility to work with many properties. This includes HMOs, apartments, flats, and houses. Regardless of the assets you have in your portfolio, you can depend on us.

So, please let us know if you need the finest services for guaranteed rent in London. We can tell you more about how the guarantees work and the benefits you can enjoy.