Top Three Areas in London for Property Prices in 2020
Despite an unpredictable and difficult year for the UK property market, there were some London postcodes which defied expectations and all of the challenges that 2020 brought, to record price increases in the property market.
In this blog, we explore the top 3 spots in London for house price growth in 2020.
The best performing postcode is Zone 3 is Barnes, a small Thames-side village that offers slightly more affordable properties compared to its high-class neighbors of Fulham and Richmond. Barnes has seen a 11% rise in the average property price, increasing the average house price to an impressive £1.3 million.
Barnes benefits from a small-town feel with a close-knit local community, whilst Central London is only a stone’s throw away. It is also very popular with families, due to the increased space available, reputable schools, and attractions such as the London Wetland Centre which provides a fantastic day out for the whole family.
The peaceful village of North Finchley, situated in North London, has enjoyed a strong price growth. The increase on property value year-on-year was a healthy 15%. The average price of a property has risen to just under £520,000.
North Finchley has gained its popularity, over other North London villages such as Highgate and Crouch End, due to its impressive housing stock, leisure and entertainment offering, and quality local schools.
This, plus the accessibility to both local transport and the M1 Highway and North Circular Road, has ensured that North Finchley has outperformed its competition, appealing to commuters and families alike.
Kennington has secured its place as the best performer from 2020 in Zone 2 due to its impressive year-on-year increase in property value of 13%. This has pushed the average house price in the area to just over £600,000.
Kennington has made its mark as a popular area for families and professionals, due to its central location, good transport links, highly regarded schools, and abundance of local amenities.
Situated on the border of Lambeth and Southwark, Kennington has an exciting and diverse range of property from Georgian townhouses to affordable ex-local authority houses, to picturesque cottages. Moreover, it’s located between two major regeneration zones, which means this is definitely an area to keep an eye on for future developments.
At ZFA, we can help you manage your property or portfolio of properties. If you’re thinking of buying to let in one of these London postcodes, chat to one of our friendly knowledgeable employees – we can help you with a range of services, from Guaranteed Rent London and property management, estate agency and property investment, and commercial letting. Contact us today if you have any questions and we’ll take care of the rest.