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Tower Hamlets named as property hotspot for young professionals

PUBLISHED: 14:57 20 April 2017 | UPDATED: 15:05 20 April 2017

Tower Hamlets is the sixth most popular area for young professionals. Picture: PA WIRE

Tower Hamlets is the sixth most popular area for young professionals. Picture: PA WIRE

PA Wire/Press Association Images

Tower Hamlets is the sixth most popular property hotspot for young professionals in the country, a report claims.

Top 10 property hotspots for young professionals

Hove (Avg price £380,326)

Wandsworth (763,418)

Wimbledon (703,388)

Fulham (1,090,094)

Battersea (£891,796)

Tower Hamlets (526,060)

Brighton (383,819)

Streatham (468,1610)

Hampstead (£1,352,836)

Putney (742,683)

The borough is the only one in East London to feature on the list which has been compiled by Lloyds Bank.

With an average asking price of a home in Tower Hamlets at £526,000, it offers a better deal then London areas that appear on the list such as Hampstead , Chiswick and Kilburn.

The report also claims that the young professionals, aged between 25 and 44, will pay a £71,000 premium to live in the most popular property hotspots.

Andrew Mason, Lloyds Bank mortgage products director, said the additional cost of buying a property in a popular area isn’t a deterrent.

He added: “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.

“These are also places where they can enjoy easy access to green space and a range of places to socialise.”

The seaside town of Hove has been named as the most popular property hotspot in Britain for the third year running.

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