The London property market has been thriving for many years and doesn’t look likely to slow up any time soon. After all, the UK’s capital is one of the truly prime locations that is desired by not only local Londoners and buyers from across the country but also international investors looking for properties likely to gain value.
Let’s not forget that London is an incredible place to live and offers a quality of life that is on par with any major city around the world. And of course, those buying in London differ greatly in terms of their wealth, needs, and desires in relation to property. Nevertheless, there are certain property features that retain enormous popularity almost no matter who is buying.
In this article, we take a look at which property features are most sought-after for those interested in buying property in the capital.
A great location
There’s no doubt that the most enduring important feature in London (and indeed, anywhere) is its location. Saying that you’re interested in buying a property in London is as vague a statement as anyone can make in property – London is an enormous sprawling city, with everything from bustling metropolis streets and gigantic tower block apartments to leafy suburbs and rustic townhouses.
So, ultimately, buying in London means choosing the perfect location to buy – and it is well known that many areas are significantly more sought-after than others. Knightsbridge, for example, and the area around Hyde Park are famously popular and understandably command a very high price on the market. But uber-luxury and uber-expensive is not necessarily possible, or even desired, by everyone.
In fact, some of the more sought-after locations are found in traditionally less glamorous parts of the city including Bromley and Sutton in south London, which are considered more affordable, while retaining great transport links and thriving communities. It seems, then, that those buying homes in the capital generally prefer London to be a great place to live, rather than being drawn by the bright lights and glitz.
Anyone who has searched by property in London will have considered a basement flat at some point. Typically more affordable and more readily available, basement properties have nevertheless sometimes been shunned simply because they don’t offer very much in the way of natural light.
It’s only sensible that living in London would make you crave sunlight. In the busiest areas London can feel cramped and crowded, and to be able to return home to somewhere with plenty of natural light to enjoy is extremely appealing. It is for this reason that properties that offer a light filled space have been sought-after on the market for a long time.
Features such as skylights, especially those with retractable blinds, are desired because they fill the room with daylight. Also, homes with large windows or even openable French windows are also highly prized.
One or two bedrooms
It is certainly the case that the number of bedrooms a property has is still a major defining feature in how desirable it is. Of course, this could be said for buying property just about anywhere in the world. But it seems that in London there is definitely something of a sweet spot in terms of what buyers are looking for.
According to Zoopla, 49% of buyers in London are interested in 1 and 2-bedroom flats. That’s certainly something interesting to note – and this may come down to the fact that smaller properties are most often the target for investors, as well as being popular with young professionals who move to the capital for work.
Of course, London has properties in virtually every size and shape imaginable but, homes on the smaller side do draw the most interest.
It is not hard to understand why homebuyers in London are looking for properties with period features. Yes, there is something impressive, sleek, and stylish about a super-modern home, but there is always a lingering sense that what is ‘modern’ now will look out-of-date and tacky in just a few short years, making redecorating a priority sooner than buyers might hope.
This is less the case for traditional properties which tend to have a more elegant and timeless appeal. Of course, period features can also be styled to fit in with a more modern living space too – while instilling the property with character that simply isn’t always present in newer-build homes.
Some of the most sought-after period features include original fireplaces, Edwardian columns, and exposed brickwork.
A detached property
London is a busy city and it can get noisy. Those who have lived in high-rise apartment blocks with neighbours on all sides will be able to appreciate why detached properties are in such high demand. However, such properties are far less common in densely populated areas, given that a sizeable proportion of originally large detached dwellings have been converted into flats, to satisfy the area’s market demand.
London properties are naturally sought-after because of their location – but of course, certain features will always draw in buyers. It may be the draw of a well situated and spacious detached property offering scope for some much-needed peace and quiet, a more bijou sized home offering wonderful light filled living or stunning period features providing in-built elegance to a home.
When properties have such plus point attributes they are more likely to command a higher price point. This is certainly something to consider whether you have a property to sell, or if you are thinking of making a purchase sometime soon.