Attracted by the community feel and improved transport links; renters are now looking for properties in outer London.
Seeking for a first place to live is not the easiest thing to do, particularly for those who are fascinated by the job opportunities in London, but who are quite unfamiliar with the capital.
First-time London renters quickly realize that residing in certain areas of the City could charge them a minimum yearly figure of £25,000 or £2,080 a month for just a two bedroom flat.
Because of these high prices of housing in premium areas of London, many are looking at options outside of popular areas such as Shoreditch, Westminster, and Hoxton. Some are even broadening their search to Zones 2-3 such as Homerton, Peckham, and Finsbury Park.
The increasing popularity of cycling also makes the properties close to the super highways more admirable and attractive to buyers and renters alike. With good transport links, affordable prices, and a flourishing social life, the properties in the said areas have never been more desirable.
Builders, landlords, and agents are trying to equal the demands of young professionals flooding to these outside areas of London, so it is expected to see more residential conversions and developments in these areas.