Hove 'the most desirable place for young professionals' for 2nd year in a row

Hove 'the most desirable place for young professionals' for 2nd year in a row [Photo: Photobuay via iStock]

In recent years, young professionals working in London have increasingly been looking at new places to live in the surrounding areas, sacrificing their fantastic central city-living lifestyle in order to get cheaper properties that give better value for money for every mile further away they live. 

This has meant commuters becoming more commonplace, and as such, towns and cities that were somewhat unheralded previously have become more and more popular. One example of this is the seaside town of Hove, near Brighton, which has just been named as the most desirable place for young professionals looking to a buy a home for the second successive year. 

According to the research from Lloyds Bank, the BN3 postcode that covers Hove on the south coast has become the most popular in England and Wales with people aged between 25 and 44. Its neighbour Brighton doesn't do too badly either, coming in at seventh place on the rankings. 

The main reason for the popularity of the seaside town is the simple fact that it offers great access to London for those working in the capital, but with far lower house prices. The 70-minute train journey from Hove to London makes it the ideal commuter location. 

On top of this, the lifestyle factor has apparently made Hove a popular place with young buyers. The diverse population, the availability of music venues, theatres, independent shops, bars and restaurants all make it the perfect place to live.

However, while commuting has become more popular, that's not to say that London is not still hugely desirable to young buyers. Of the top 20 most popular places to buy for 25 to 44 year olds, as many as 16 are within London, with NW postcode areas such Hampstead, Kilburn, Paddington and Islington being among the most popular. 

"Young professionals tend to have a professional or University qualification, are in well paid jobs and enjoy an urban lifestyle without the hustle and bustle of living in the city centre," said Lloyds Bank mortgage director Mike Songer. 

"Our research shows that aspiring young urbanites choose to settle in areas which give them the best of both worlds, attractive suburbs offering good amenities and quality of life, which are within easy reach of a larger city centre and in many cases they are prepared to pay a premium to live there,’ he pointed out.