New research by specialist mortgage lender, Butterfield, commissioned an independent survey of 537 adults based in the Greater London area. It asked the respondents where their dream location would be to purchase a property in London, if money was no object, with the City emerging as their dream borough.
According to the data, 20% of Londoners would want to live in the City, with the figure rising to 28% among those aged 18-34. This was closely followed by Kensington and Chelsea, with 18% of Londoners choosing the leafy and exclusive borough as their most desired address.
The City of Westminster, occupying much of Greater London’s central area, including most of the West End, came third in Londoners’ list of dream neighbourhoods, chosen by 16%.
Elsewhere, 9% selected Greenwich as their ideal borough, with Hammersmith and Fulham emerging in fifth place, according to 6% of Londoners.
Alpa Bhakta, CEO of Butterfield Mortgages, said: “From the vibrancy of the West end to the tranquillity of the leafy borough of Kensington, our research provides interesting and timely insight into London’s most desirable neighbourhoods.
“Crucially, our research counters the rhetoric about the ‘demise of the city’ and the ‘great escape’ to the suburbs. In fact, prime city living has evidently retained its appeal among Londoners, with the prime Central London boroughs of the City, Chelsea and Kensington, and Westminster all emerging as clear favourites when it comes to their dream locations. With the capital once again open for business and the lure of urban life increasingly shining through, we expect PCL to remain the jewel in the crown of the UK’s booming property market.”
