West Drayton, a suburban town in the far west of London, is the most in-demand area for home buyers in London, figures reveal.
On average, it takes just 37 days to sell a property in West Drayton, according to the data from Rightmove.
This is three days faster than the next hottest neighbourhood of Walthamstow, where properties are snapped up in an average of 40 days.
West Drayton benefits from relatively modest house prices – a four-bedroom detached house costs around £600,000 and a two-bed flat around £300,000. It also has a station on Crossrail’s Elizabeth line.
West Drayton, which sits in the London Borough of Hillingdon, just north of junction four of the M4, used to have a military air traffic control centre, but this relocated to Swanwick. A new shopping complex is soon to be built in the town centre.
The rest of the top 10 fastest-selling areas in the capital is made up of other suburban towns which have historically been seen as unfashionable, yet more affordable.
It includes Leyton, where homes sell in an average of 42 days, Chessington (43 days), Bexleyhealth and Wallington (both 44 days), Eltham (46 days), Blackfen (47 days), Woolwich and Welling (48 days).
At the other end of the scale, it takes an average of 146 days to sell a home in upmarket Knightsbridge and 121 days to sell a home in Kensington.
The most searched for places in London on Rightmove are also dominated by the suburbs.
Bromley in south east London is in first place. Historically a market town, Bromley was identified as a major metropolitan centre in the London Plan. The town has a large retail area, including a pedestrianised high street and The Glades centre, the main shopping mall.
After Bromley, the most searched for place in London is Croydon, which is soon to benefit from a Westfield shopping mall.
This is followed by Dartford, Romford, Hornchurch, Sutton, Orpington, Wimbledon, Sidcup and Kingston Upon Thames.
The Rightmove data also reveals the areas with the highest asking price growth over the past year.
In first place is Golders Green in north London, which benefits from diverse restaurants, good train and bus routes, and close proximity to Hamstead Heath. The average asking price in the fourth quarter of 2017 was an eye-watering £1,039,376 – an increase of 7% from the year before. Prices in the town are almost 80% above the London average.
Erith is in second place with a 6% average price increase to £318,637, while in Sidcup asking prices were 5.5% higher at £439,897 and properties in Woolwich sold for an average of £367,704, up 5% from a year ago.
Also in the top 10 is Worcester Park, Kentish Town, Wallington, Harold Wood, Ilford and Hounslow.
DealMakerz thinks the data is another indication that buyers are increasingly being priced out of central London and are turning to the more affordable suburbs.
It’s a sensible move, as a lot of towns on the outskirts of the capital are benefitting from urban regeneration.
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