Tips for buying a home in London's most in-demand neighbourhoods

It is leafy, has stunning houses, and is world-famous thanks to its tennis tournament. Over the past year, Wimbledon has been named London's most in-demand neighbourhood in Rightmove's most-searched location list. 

 

According to figures from Land Registry, the average property sold in Wimbledon between January 2022 to December 2022 for £904,650. Houses accounted for the majority of sales during this period. 

 

Rightmove's statistics show that: Sutton, Romford, Kingston upon Thames, Richmond, Orpington, Beckenham, Chelsea and Putney made up the top ten searched locations. 

 

This is followed by: Walthamstow, Chiswick, Hampstead, Hornchurch, Fulham, Surbiton, Sidcup, Ealing, Upminster and Croydon.

 

Research from Savills estate agents shows £1 million+ London locations now account for one in every 10.6 homes in the capital. Although London has seen the smallest percentage increase to its share of £1 million homes over the past three years, it's seen +10,454 properties tip over the £1 million threshold in 2022.

 

Savills points out that Hillingdon (+95%) and Croydon (+81%) were the London boroughs with the largest increase in £1 million sales over the past year. 

Buying a property in London's most popular boroughs

It is important to be as organised as possible in order to purchase a property, especially in a busy market where some estate agents are still getting 'best and final' offers.

You may have to paint yourself in the best light to buy a property in many areas because there is insufficient stock. At the moment, there are more buyers than available houses in many areas and this is helping to maintain higher property prices. 

Tips to get your offer accepted:

• Find a good mortgage broker, like Trinity Financial, to provide a decision in principle as proof you can get a sufficiently large mortgage. 
• Appoint a solicitor so you can give their details to the estate agent.
• Have proof of your deposit to meet anti-money laundering requirements.
• If you are selling your home - you are more attractive to estate agents and sellers if your home is already under offer. If not, consider a let-to-buy mortgage. 
• Get a fast mortgage offer.

What will a good mortgage broker do for you?

A good mortgage broker will assess your financial situation and then research the market to find the most suitable deal. Trinity Financial's brokers will make the whole process of securing your mortgage as smooth and straightforward as possible. 

Our brokers will find the best lender and mortgage rate to suit you and explain the options available, including whether full or partial interest-only fits you. Trinity will provide 'an advice and recommendation service' and update you on the progress of your mortgage application at each important stage. We will also monitor your mortgage rate and potentially swap it for a lower rate if one is available.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation