- Dulwich has been crowned the number 1 London property hotspot for 2024
- It ranks ahead of Hampstead and Ilford, in the east of the capital
- Those considering a move have been urged to start their search now or face stiff competition
The London property hotspots for 2024 have been confirmed by lettings and sales estate agent Foxtons.
So far this year, the average number of buyer enquiries being made per month has increased by 41 per cent across the London market, although in some areas this increase is as high as 153 per cent.
Foxtons data looks at the average monthly number of buyer applicant enquiries made with the company so far this year and how this gauge of buyer market activity compares to the previous year.
As London’s largest estate agent, Foxtons holds the most comprehensive view of the London market and just where the capital’s buyers are heading when it comes to purchasing a property.
The data from Foxtons shows that, so far this year, there has been a 41 per cent increase in the number of buyer applicant enquiries made per month.
However, some areas of the capital have seen a far greater surge in returning buyer activity and nowhere more so than in Dulwich, where the average number of monthly enquiries is up 153 per cent versus 2023.
Hampstead ranks second, with 104 per cent more buyer enquiries per month versus last year, while Ilford has also seen an impressive increase at 101 per cent.
Other areas to make the top 10 include Kingston (+93 per cent), Stoke Newington (+89 per cent), Ealing (+87 per cent), London Bridge (+78 per cent), St John’s Wood (+77 per cent), Wapping (+73 per cent) and Putney (+73 per cent).
Foxtons CEO, Guy Gittins, commented: “It’s been an extremely positive start to the year for the London property market and we’ve already seen a notable increase in the number of buyers enquiring across all but a handful of areas.
“This is despite the fact that mortgage rates are yet to come down and such a show of intent so early in the year only bodes well for the coming months as we head into what is traditionally the busiest time of year for market activity.
“So if you are thinking of purchasing in 2024, now is the time to spring into action, as you’ll already be facing a higher degree of competition from other buyers and this competition is only going to intensify.”
10 London property hotspots for 2024
- Dulwich
- Hampstead
- Ilford
- Kingston
- Stoke Newington
- Ealing
- London Bridge
- St John’s Wood
- Wapping
- Putney
Related: Average UK monthly rent has increased by 46% in the last decade