Young professionals increasingly turning towards south coast

Young professionals increasingly turning towards south coast

For young people across the UK who are looking to move into rental property, there can be little doubt that London and Manchester have become the real hotspots in recent years. However, according to a new report, it is a different story altogether when it comes to buying homes, with the south-east becoming particularly strong in the last few months. 

According to findings published by Lloyds Bank, East Sussex is currently the hottest place in the UK for young professionals, with many looking to move to the south coast when they are purchasing property. 

The seaside town of Hove is the most popular in the UK with those aged between 25 and 44-years of age. In addition, the neighbouring town of Brighton is the fifth-most popular with the same age group. 

Lloyds pointed out that the reason for this surge has been the fact that the increasingly affluent graduate is looking towards a better quality of life. Many are now purchasing south of London because there are properties there that they can now afford to buy that are in close proximity to many of the leisure activities that they enjoy. 

However, while it is the case that many are now moving out of London when buying their home, the capital remains the most popular city as a whole for young people purchasing, with 16 of the top 20 most popular areas of the UK, according to Lloyds, still located within London. 

Wimbledon, Wandsworth, Battersea, Streatham and Fulham are the most popular areas of London, while the likes of West Kensington, Chiswick, Ealing and Islington also make the list. 

"The most popular areas for young professionals tend to be dominated by trendy locations in London. Whilst this is still the case, this year our report reveals the ascendency of Brighton and Hove as two of the leading property hotspots for this group of buyers," said Andy Hulme, mortgages director at Lloyds Bank.