There are many reasons why people will buy and eventually sell the property they are living in – upsizing, downsizing, jobs or babies – which are combined with changes in the property market that see areas go from not to hot. But where exactly are people buying new properties and what areas are they leaving behind?
We've looked at Foxtons’ data on where people are selling and compared this to the latest Land Registry figures to give you an insight into where people are moving from and to in the capital.
Where are Londoners selling up?
Canary Wharf
According to Foxtons' data, Canary Wharf tops the charts as the place where currently most Londoners are selling their property.
Being a hub of international business, Canary Wharf often attracts residents who move to the area to get that all important short commute to work. This is also the reason that new developments make up a large proportion of the sales market around the E14 postcode.
Notting Hill
Notting Hill will always be one of west London's most sought-after neighbourhoods, attracting the capital's artistic and celebrity residents.
Like many areas in central and central-west London, the housing market in Notting Hill is dominated by apartments, of which homeowners tend to live in for the medium term.
Earl's Court
Properties in Earl's Court have seen their demand skyrocket in recent years due to the high number of homebuyers looking for better value property compared to that of its pricier neighbours, Chelsea and Kensington.
From professionals searching for a home close to more glamorous Chelsea, to investors wanting a piece of real estate in prime central London, the profiles of sellers in Earl's Court are mixed.
Shoreditch
While the likes of Peckham and Croydon are enjoying their time in the spotlight, Shoreditch still remains one of the trendiest areas to live in London and its close proximity to ever-growing Tech City means there is a constant flow of people moving into and out of the neighbourhood.
The ever-changing face of industry in Shoreditch means that those who brought several years ago in the area are seizing the moment to make the most of their investment.
Fulham
Independent boutiques, nice pubs and more brunch places than you can shake a stick at, Fulham is the area of choice for young singletons, right through to retirees.
The Fulham market is a busy one for us. From our experience, we know that Fulham is a firm favourite with young professionals, who will snap up apartments as soon as they come on the market.
Where will Londoners be buying properties in 2018?
Looking at the most recently released data from Land Registry on the number of properties sold in London last year, we predict that these areas will be the most popular with buyers in 2018.
Wandsworth
Most popular areas: Tooting, Streatham, Nine Elms
Reasons to live in the London Borough of Wandsworth: Second cheapest council tax in the capital, lots of cool development around Nine Elms, transport links through Clapham Junction, elegant period properties
Average price: £605,702
Croydon
Most popular areas: East Croydon, South Norwood
Reasons to live in the London Borough of Croydon: Below London average house prices, lots of new developments for first-time buyers, regeneration of Croydon's centre
Average price: £369,576
Bromley
Most popular areas: Crystal Palace, Beckenham, Bromley
Reasons to live in the London Borough of Bromley: Sense of community in many areas, trendy eateries and pubs towards Crystal Palace, good schools, lovely family areas in Beckenham and Bromley
Average price: £453,689
Barnet
Most popular areas: Cricklewood, Brent Cross, North and East Finchley
Reasons to live in the London Borough of Barnet: Good-quality schools, family-friendly, wide range of properties, suburban vibe
Average price: £550,167
Havering
Most popular areas: Romford, Gidea Park, Upminster
Reasons to live in the London Borough of Havering: Lower than average property prices, up and coming areas, Crossrail opening soon, underground connections
Average price: £366,354
