Croydon was the most popular location among British home buyers in the past five years, according to a new report from MortGage Advice Bureau (MAB).
Croydon: It’s the place to be
Within the London Boroughs, Croydon has emerged as the most sought after area, with an average real estate price of £ 409,800.
On just below the London average of £ 421,000, the price difference made it an accessible access point in the London market, MAB said. This was particularly the case for first buyers who wanted to live in the Greater London area.
The popularity of Croydon among home buyers has arisen thanks to data generated by the My Mab and Home Koop -AppThat has also emphasized other attractive locations for British home buyers.
In Scotland, Edinburgh was the city with the highest number of potential buyers – the average real estate price in the city was £ 397,800. It was closely followed by Aberdeen and Glasgow, with constant regeneration efforts, making these two cities equally desirable locations for home buyers.
Swansea led in popularity for home buyers in Wales, with an average real estate price of £ 189,400. The lower average real estate prices here have made homeowners much more accessible, especially for first buyers. Newport and Cardiff followed just behind.
In Noord -Ireland, Belfast had the highest number of home buyers, with an average real estate price of £ 197,000. The status as the capital and economic hub of the region made it a popular area for buyers in this region, MAB said, as well as relative affordability compared to other areas in the UK.
Rachel Geddes, strategic director of Lender at MortGage Advice Bureau, said: “There has never been a more exciting time for aspiring -houses buyers to take that first step on the ladder – regardless of where they may be based. Our data paints a clear picture: buyer’s confidence and requirement are rising.
“With mortgage lenders who constantly have affordability stress tests, new, innovative products can introduce, potential buyers can borrow more than they could even compare a few months ago.
“With the support and expertise of a mortgage broker, potential buyers can discover what is possible and place themselves in the strongest possible position to have a place they can really call.”