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Go South West, young professionals

Monday, 28 May 2012 10:43 AM

South West London is the top property destination for aspiring young professionals, according to a survey by Lloyds TSB.

The bank found that 10 of the top 20 areas that attract the most young urban professionals have London SW postcodes. Fulham was top followed by Wimbledon, Wandsworth and Battersea.

And unsurprisingly 18 of the top 20 are in London, with Paddington, Putney, Canary Wharf, Hampstead and Kilburn on the list.

The only areas outside the capital to make the top 20 for young careerists are Brighton and Hove on the Sussex coast.

Homes in the favoured postcodes do not come cheap. SW6 (Fulham) has an average price of £782,588, while SW19 (Wimbledon) and SW18 (Wandsworth) both average almost £500,000. The desirable areas cost 40 per cent more than London as a whole.

Outside the South East, the top towns favoured by young urban professionals are:

- Cambridge for East Anglia (£348,237)
- Clifton for the South West (£312,023)
- Leamington Spa for the West Midlands (£238,219)
- West Bridgford for the East Midlands (£231,088)
- Jesmond for the North (£227,533)
- Didsbury for the North West (£215,813). Young professionals here are prepared to pay the highest premium compared to the surrounding area (56 per cent).
- Broomhill and Fulwood for Yorkshire and Humberside (£201,035)
- Cardiff for Wales (£186,556).

Suren Thiru, housing economist at Lloyds TSB, said: "The typical profile of young professionals is that they tend to have university qualifications, are in well paid occupations and like to take full advantage of living in or close to the city, either for work or leisure purposes. Our analysis certainly suggests this to be the case with Fulham as the leading hot spot for young aspiring urbanites.

"Outside London the areas most popular with this segment of the population also tend to fit the profile. In the majority of cases, young buyers have to pay a significant premium for a property to live in these areas compared with living in other parts of the city."

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