As London Fashion Week (LFW) comes to a close and the London Fashion Week Festival kicks off, we have the most fashionable boroughs in the capital with strong property price growth…
Online estate agent eMoov.co.uk has compiled a list of London’s most fashionable boroughs to determine where the capital’s trendiest investors can purchase an affordable property, while still being in the know for what’s hot and what’s not.
The agent has looked at the most fashionable areas in London, based on the nightlife, shopping, street art, cultural activities, and foodie and libation destinations, highlighting which offer the most affordable properties for buyers, as well as strong property price growth since the last LFW.
Tower Hamlets may not be the first place you think of when considering fashionable parts of London, but the historic culture of the borough and the overspill from neighbouring Hackney have made it a hub of great food, fashion outlets and artistic displays.
Near central London, this is a fantastic area to experience cultural events and hasn’t yet spiralled out of reach where house prices are concerned, having experienced a 1% increase in average values since last year.
Bethnal Green is praised for its cocktail scene and has an average house price tag of £513,092.
For those interested in street art, curry and markets, look no further than Brick Lane. Some of the capital’s most renowned street art can be found in the area, including work by Banksy, as well as vintage clothing outlets, antiques, music and food. The average home on Brick Lane itself will set you back £599,209.
Southwark and Lambeth
South London is an exciting place, where the east meets west just below the river. The Southbank is well known for its graffiti and street art, with an average house price of £661,240 – up by 2% on last year.
On the east side, in Southwark, Bermondsey offers property near great pubs and restaurants (£546,327) and Peckham boasts affordable bars and cinemas (£562,352). Maltby Street is the destination for shopping (£581,666), while the borough’s street art is as its best in East Dulwich (£635,671).
Lambeth’s Brixton seems to have it all, with a community feel, trendy restaurants, interesting street art and exciting nightlife. The average property value in the neighbourhood is £571,950 – slightly above the whole borough’s average of £533,312.
East London’s jewel has enjoyed a 5% rise in house prices since September 2016. There are several areas across the borough that are deemed some of the most fashionable in London: Stoke Newington for shopping (£685,143); Dalston for nightlife (£575,084); Clapton for a New York City vibe (£603,931); Hackney Road for street art (£487,875); and, of course, Shoreditch for it all (£520,534).
Camden has been an important music hub well before Amy Winehouse arrived, but she certainly helped the borough gain recognition that is still keeping it thriving today. The borough as a whole enjoyed 8% property price growth since last year’s LFW, jumping from an average value of £786,422 to £848,580. While the overall average is more affordable than some, Camden’s trendiest areas have seen strong price growth as a result.
For starters, Hampstead has some of the greatest pubs within its small perimeter, but has an average house price tag of £1,753,198. Some of London’s top shopping streets are also in Camden: Lamb’s Conduit (£1,143,100) and Camden Passage (£853,464).
Kensington and Chelsea
One of London’s most affluent neighbourhoods, Kensington and Chelsea, is a destination for both locals and tourists. The property on offer in this borough is some of the priciest in the capital and, this year, it rose in value by an average of 14%.
There are pockets of Notting Hill that maintain a bohemian vibe, especially during the annual carnival at the end of August. There is also great nightlife and restaurants across the area. The average house price in Notting Hill is £1,045,167 – down by 3% on last year, but following a 55% surge over the past five years.
Some of the capital’s best shopping streets are within the borough: the Kings Road (£1,550,000) and, on the more affordable side, Golborne Road (£535,000).
Other trendy spots
South London’s Balham in Wandsworth is a fashionable location to be seen enjoying brunch, with an average house price of £635,067. Lewisham’s Deptford is also a foodie capital, with an average price tag of £416,848.
For shoppers and high rollers, Carnaby Street in Westminster boasts an average property value of £1,867,518, while those looking for pure happiness should head to Islington, which has an average house price of £674,896.
The Founder and CEO of eMoov, Russell Quirk, says: “London has always been at the forefront of fashion, and the capital is considered one of the trendiest cities in the world. Whether it’s clothing, art or a vibrant social scene, London has a lot to offer aspiring buyers.
“Unfortunately, the one downside of a place becoming trendy is that the increasing buyer demand brings with it an increasing price tag. We wanted to show potential homebuyers that there are some more affordable alternatives for property across the capital, without compromising on the fashionable image that comes with it.”
Landlords, will you be investing in one of these fashionable hotspots?