Marc Goldberg, Head of Sales at Hamptons International
“The London market is very buoyant at present and based on sales activity during March at Hamptons International – there is a positive outlook for the property market for the remainder of 2010. The number of net sales achieved in London during March 2010 equalled peak market levels last seen in 2006 / 2007 – a total of 37% up on March 2008 and 2009. The average property price achieved in March 2010 was actually higher than at the peak of market levels in 2007 and 16% higher than March 2009, highlighting that confidence has most definitely returned to the higher-value property market in London.
“UK buyers are returning to the market in significant numbers as demand increases causing a 17% increase in applicants in March 2010 compared with this time last year. The current weak pound and low interest rate is driving activity in the London market at present as high-levels of overseas buyers invest in mature markets which offer more stable investment opportunities.”
1) CLAPHAM – 24.8% of total lone-female applicants in London
Quote from Agent:
Fenella Russell-Smith, Associate Director at Hamptons International
“25% of all female applicants looking to purchase on their own through Hamptons register with the Clapham office. The high proportion of lone-female purchasers househunting in Clapham highlights just what the area can offer women hoping to buy their own home.
“Clapham is now seen as good middle-ground in London. It’s not quite as alternative as the likes of Camden but it doesn’t share the expense of areas such as Fulham or Kensington. It is, however, as equally self-contained in terms of what it can offer residents in the area.
“The type of women who buy in Clapham are often young, very sociable city workers who see this area as affordable yet aspirational in the sense there is so much going on. It’s most definitely the kind of location where a woman looking to purchase property on her own can find a balance of good lifestyle choices and property options.”
Buyer Case Study
Social Life
Clapham has a reputation for attracting young city workers who enjoy socialising in the many pubs and bars in and around Clapham High Street. New bars and restaurants are opening all the time, creating a vibrant social scene for residents wanting either somewhere to enjoy a chat with friends or late night drinking and dancing. Clapham is particularly popular with more sociable women purchasers being both self-contained from a social and entertainment point of view but close to central London and all major transport links.
Cathedral Group have been given the go ahead to develop a new leisure centre in Clapham as part of a major new revamp of both leisure and library facilities in the area.
Fitness and Exercise
With the vast outdoor space at Clapham Common, there are a myriad of outdoor exercise opportunities to attract women. The current most popular is known as ‘Brit Fit’ – British Military Fitness – where ex-armed service personnel lead mixed groups in outdoor boot camp style exercises. It’s hard and demanding exercise but particularly popular with women intent on getting fit and in need of some motivation. The Brit Fit team also run regular fitness holidays for indviduals looking for a sociable way to exercise abroad.
There is also a Soho Gym in both Clapham Old Town and a Virgin Active with indoor swimming pool for those who prefer to exercise without the watchful eyes of army personnel.
Safety
As Clapham has quite a high proportion of properties close to the tube stations, walking times are shorter to and from home, making commuting a safer prospect for women – particularly on darker nights. The area also has a particularly good bus network.
Property
Clapham has a high number of first time buyer focussed one and two bedroom flats, making the area an affordable prospect for single income buyers. The high number of female applicants in this area suggest that many women see Clapham as a comfortable location to live on their own, offering good local amenities and entertainment balanced with property options which are budget-friendly.
2) PUTNEY – 11.2% of total lone-female applicants in London
Quote from Agent
Alister Shaw, Sales Manager at Hamptons International Putney branch
“Putney is a very welcoming and attractive part of London. The area is quite family focussed, although it has a great deal to offer female purchasers so it’s unsurprising that over 11% of all female applicants looking to buy on their own target this area. The casual social scene, good availability of one and two bedroom apartments and more relaxed pace of life makes this an ideal area for busy women looking to live close to the city but away from the hustle and bustle of central London.
“Low household costs - Putney falls under the Wandsworth council tax band which is the lowest in the country – will contribute significantly to the high number of lone purchasers looking to buy in the area. The well-located amenities on Putney High Street and easy access into central London are very attractive to women (and men) wishing to maintain an active social life at a slightly more genial pace.”
Information about Putney
Social Life
Putney High Street and the surrounding area has an abundance of bars and restaurants to attract a wide range of ages. From local pubs with a traditional feel to chain bars, the Putney social scene ranges from the cosy ‘local’ to stylish and individual restaurants. The nightlife is not quite as lively as the likes of Clapham, however an increasing number of more upmarket bars are now starting to open in the area, such as the recently opened Citizen Smith, to broaden Putney’s appeal to a younger London population.
Fitness and Exercise
Putney’s location right on the River Thams and close to Richmond Park make this a very popular area for fitness enthusiasts. The abundance of riverside pubs ensure Putney has earned it’s place as a great location for group exercise followed by friendly socialising in one of the many watering holes on either side of Putney bridge.
Fitness and exercise are very much focused on the river and Putney is of course famous for the annual Oxford – Cambridge boat race. The rowing teams are often seen practising around Putney Bridge in the run-up to the race and a number of other rowing clubs operate a base on the river. Putney also has a selection of Pilates and yoga centres at specialist centres in and around Putney High Street offering dedicated classes throughout the day and evening.
Property
The most sought-after streets for flats in Putney are within 10 minutes walk to either Putney Bridge or East Putney train station and are centred around Putney High Street. There is a good selection of one-two bedroom conversion flats available in this area but travel a further 5-10 minutes out and purchasers will likely get a little more for their money. The wide, well-lit streets in Putney are particularly attractive for women living on their own, offering a slightly quieter but attractive alternative to the likes of Fulham and Battersea nearby.
3) Chelsea – 8.4% of total lone-female applicants in London
Quote from Agent:
Jeremy Creasor, Sales Manager at Hamptons International Chelsea branch
“Quite a high number of women looking to purchase on their own look in the Chelsea area but the buyer profile is somewhat different to that of Putney or Clapham. Chelsea principally attracts two types of lone-female purchasers. There is the affluent, older woman looking to move closer to the social hub of the city or the younger, wealthier female with access to above average financial means compared to the majority of buyers looking to purchase a property on their own.
“It’s easy to see why Chelsea would be so attractive to this category. The standard of property in the area is excellent, with a high proportion of secure apartment buildings and attractive conversion properties that would suit a woman living on her own. Chelsea offers a great deal of prestige in its location thanks to its distinctly European feel. However, it’s the easy access to some of London’s best shopping areas, including Kings Road, Fulham Road and the exclusive boutiques of Knightsbridge that is a particular draw for female buyers looking to be close to some of London’s key cultural and social attractions.”