The UK’s cool property hotspots for the young, hip and rich
Updated: Jul 15, 2020
We've been featured in The Times article about wealthy millennials, who prefer edgy fintech hubs to traditional, more gentrified areas.
Our clients, sisters Kimi, 31, and Charlotte, 29, who run an exclusive supper club, chose to spend their inheritance on their first home. They could afford a flat in upmarket Kensington and Chelsea, yet they opted for a £1.5 million loft in Shoreditch.
“We wanted somewhere really central that wasn’t boring, that was 24-hours and buzzy, that had interesting and diverse people doing their own thing,” says Charlotte, an artist, who bought in 2017 with the assistance of London Homes Search.
In their EC2A postcode, 54 per cent of the population are wealthy under-36s. Only the postcode around the Barbican Centre, EC2Y, has a greater proportion (75 per cent), with Farringdon’s EC1M (47 per cent) in third place, according to Knight Frank. “The centre of gravity in the prime London property market has moved east in recent years,” says Tom Bill, the head of London research at Knight Frank. All three postcodes are on the doorstep of the tech start-up cluster at Old Street, nicknamed Silicon Roundabout, which has led London to be crowned the world’s No 1 city for fintech investment.
Amazon, LinkedIn, Google and YouTube have offices within walking distance, it also borders the financial hub of the City, “the opportunity to walk or cycle to work is a big factor, particularly for the new breed of Londoners who are more socially conscious than ever. This is where much of the ‘young money’ is being made and spent,” says Tom Page of Fyfe Mcdade, an estate agency in Shoreditch.
Read the full article here: https://www.thetimes.co.uk/article/uk-cool-property-hotspots-for-young-hip-and-rich-t0xm336gh
If you're looking for a buying agent to help you find your first home anywhere on London, for any budget, get in touch for a chat.