Fri, 23 Nov 07
A new list ranking London’s finest suburbs shows that locations once considered ‘badlands’ have joined the ranks of the most desirable places to live on the planet...
Notting Hill, for example, has moved from being one of the most deprived areas in
Savills residential research put together their first table of prime
Yolande Barnes, director of research responsible for both league tables comments, The growth of
Rife with re-gentrification
The gentrification, and re-gentrification of areas that had previously fallen out of favour is behind the spread of prime locations. By 1989, some areas such as Bayswater, Bloomsbury and Marylebone which were amongst
Now, in 2007, they are back in favour in the premier and 1st divisions of the prime property world. According to Ms Barnes, we are now more tolerant of 1930s purpose-built apartments a large part of Bayswater’s housing stock while the trend for city living has played to the strengths of Covent Garden, Soho and
Other areas which have moved up into prime territory since 1989 include Islington, Dulwich,
Distinct character and identity
Barnes again, The potential for a rundown area to become a status address depends on three main factors. The first is the type of housing stock predominant in an area. Georgian town houses in quantity practically guarantee prime status as do stucco-fronted Victorian ones but good, large family houses of any period, modest quantities of very well-managed purpose-built apartment blocks and characterful converted flats will often be a factor.
The second factor, particularly important, is a sense of place and identifiable neighbourhood. Most prime locations have an easily identifiable focus or series of hubs- where you will find a good selection of local shops and amenities and open space. If you look at the prime areas they can all be described as urban villages. The important thing is that they have their own distinct character and identity. Third, is the ‘next door neighbourhood effect’; up and coming locations adjacent to those that have already ‘up and come’ are more likely to become prime even than high quality outliers that are in a sea of council estates.
Savills have tipped some areas as not (yet) prime in their table, effectively suggesting that they have the potential to become so. Barnes again, In 2008 the real question for homeowners will be, what’s dead-cert prime and what’s vulnerable prime?
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