Page 7 - Antler from Butler & Stag

LOCATION LOCATION
The allure of
London and
West Essex
Why city living is still so desirable, while West Essex offers an attractive, nearby alternative.
In the midst of the pandemic, many were predicting that property sales in the city would slump, with our great metropolis losing its appeal, as people sought more room, both inside and out, along with fresh air and green spaces after months of being cooped up in their homes. While there was some truth in this prediction
– London’s loss has been West Essex’s gain in this respect – the fact is, there has been no shortage of buyers looking to fill the void.
Indeed, according to the latest research, there has been a significant increase in activity for London’s prime housing market recently, with independent property analysts, LonRes, reporting that new instructions in prime London increased by 72% and transactions by 40% on the first quarter of last year as buyers and sellers took advantage of the extended stamp duty holiday.
Assessing the views of more than 200,000 individuals across 109 countries, our capital continues to be regarded globally as a Mecca for jobs, culture and quality of life.
This has been the eighth consecutive year that London has topped the list, with the study citing it as being the preferred relocation option for people from places such as South Africa, Nigeria, China and Portugal, among others. Of particular appeal among respondents is the strong housing market and job opportunities.
Interestingly, the survey also found that despite the impacts associated with Brexit, London is still ranked highly by Europeans, coming
out as the second most popular city in which to live and work, just behind Berlin.
But what of those who have decided to leave the big smoke behind for pastures new? Well West Essex has clearly been a popular choice to relocate to, which comes as no surprise to anyone who knows the area.
Excellent accessibility to the countryside, with Epping Forest quite literally on the doorstep, connectivity that’s second to none and offering relative value for money when compared to London have all helped to propel a substantial rise in property sales in the area.
In the Epping Forest district alone, the number of properties sold subject to contract in the first two months of this year was up 51% on the same period in 2019.
Such is demand for property in West Essex, sellers are having the pick of buyers and prices are rising aggressively. The steep rise in activity is largely down to homeowners moving to more rural locations to realise more for their money. It’s been noted however that those from East London postcodes especially are drawn to central West
Essex areas such as Buckhurst Hill, Chigwell and Loughton, while those sellers are moving out to Theydon Bois, Epping and beyond.
If you are looking for a home in London or West Essex, Butler & Stag has an extensive range of properties to buy or rent in both
areas, with dedicated offices in Bow, Theydon Bois and Chingford. Whatever your needs and requirements happen to be, you’ll be able to tap into the knowledge, expertise and experience of the Butler & Stag team and find somewhere that is perfect for you.
Obviously, such a surge is unsustainable, but the future remains bright, especially if a recent study undertaken by Boston Consulting Group (BCG) and Totaljobs is anything to go by, with London ranked as the world’s most desirable city to live and work in.
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