Young professionals paying an extra £71K to live in the UK’s best postcodes

Young professionals paying an extra £71K to live in the UK’s best postcodes

Recent research from Lloyds Bank has revealed that young professionals in the UK are paying an additional £71K to buy a home in one of the country’s 20 most popular postcodes.

The average price of a property in the UK’s most popular postcodes is £735,874 whereas buying in the surrounding areas is £664,716 so that’s a difference of £71,158.

Out of the 20 areas mainly selling to young professionals, as you would expect, most are located in Greater London. The exceptions are Didsbury in Greater Manchester and Reading in Berkshire. Didsbury is one of the first northern towns to appear on the list and in recent times, it has become very popular with young professionals due to its variety of up-market food shops, independent retailers, and trendy restaurants and bars. Didsbury also enjoys a convenient tram connection to Manchester city centre which makes it ideal for commuters.

Chiswick in West London took the top spot in the research with young professionals paying an extra £371K for the privilege of living in such a sought-after postcode.

The research looked at the UK as a whole before identifying regions that particularly stood out. In response to the research, Andrew Mason from Lloyds Bank mortgage product direct said, “Aspiring young professionals are typically well qualified, in well paid jobs and tend to live in areas not far from the city centre where they work. These are also places where they can enjoy easy access to green space and a range of places to socialise. These buyers also don’t appear to be put off by the significant premium in price to live in areas popular with young professionals.”