End of commuting line now hot property as demand by zone reverses

Rightmove logo
  • Analysis of commuter lines in London reveals  Zone 6 is seeing the biggest increase in the number of buyers, and Zone 1 the smallest, a reversal of the trend we saw a year ago:
    • Zone 6 has moved from having 9% more buyers in September 2019 compared with the previous year, to now being up by 108%
    • Zone 1 has moved from being 41% up year-on-year in 2019, to now being just 7% up
    • The further out you go by zone the greater the increase in year-on-year demand
  • Analysis along the Northern line shows the biggest jump in demand is at the end of the line:
    • High Barnet is top with the number of buyers up 166%, followed by Finchley Central, up 120%
    • Moorgate and Bank are bottom of the list, down 34% and 16% respectively

New analysis by the UK’s biggest property website Rightmove shows that homes further out on London commuter lines are seeing the biggest jump in the number of buyers looking for their next home, a complete reversal compared to this time last year.

 

The study looked at the change in the number of buyers sending enquiries to agents on Rightmove between September 2018 and September 2019, and the same change between September 2019 and September 2020.

 

The majority of zones have swapped demand rankings compared to the previous year, and as you move out by zone the jump in the number of buyers increases further:

 

Increase in no. of buyers  

Zone 1

 

Zone 2

 

Zone 3

 

Zone 4

 

Zone 5

 

Zone 6

September 2019 versus September 2018 +41% +22% +21% +15% +8% +9%
September 2020 versus September 2019 +7% +42% +57% +76% +103% +108%
Zone  

Average asking price October 2020

 

Average asking price October 2019

 

 

Annual change

1 £1,245,254 £1,356,878 -8.2%
2 £749,818 £730,639 +2.6%
3 £620,887 £593,311 +4.6%
4 £502,013 £477,091 +5.2%
5 £494,013 £474,928 +4.0%
6 £510,107 £486,586 +4.8%

The study also looked at the change in buyer demand for each station along the Bank branch of the Northern Line between July and September 2020 compared to July and September 2019, which mirrors the overall trend.

 

The two stations that saw the biggest increase in the number of buyers were High Barnet, up 166%, followed by a station just a few stops along, Finchley Central.  Northern locations of the northern line are performing more strongly than the southern locations, and there is a clear dip in demand along the zone 1 stations.

 

Rightmove’s Head of Property Data Tim Bannister comments:”Agents have been reporting a number of people selling up in the inner London zones and moving further out, but to see this reversal in the demand trend reflected so clearly in the data is quite something. Some buyers still expecting to commute into the centre in the long term may have now adjusted their mindset about how many zones they’re prepared to move out, leading to zone 6 being the new favourite. This data demonstrates the short term trend of more central places like Moorgate and Bank seeing lower demand right now – although it’s worth noting that it’s off strong demand levels for these locations a year ago. I do think this demand will come back eventually but it’s not clear yet how long it will take.”

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Letting Agent Talk

How to Be an Awesome Landlord in 2022

Some people may view being a landlord as an easy way to make money, but there’s much more to it if you want to truly excel in this role. The best landlords always go above and beyond to provide comfortable homes for their tenants and make them feel as welcomed as possible. Indeed, to be…
Read More
Property for sale
Estate Agent Talk

Selling Your House? Here’s What You Need To Do

Selling your house is a big decision. It’s not something you do every day or even every year. So, when the time comes to sell, you want to make sure you’re doing it right. That means getting the best possible price for your home and making the process as smooth and stress-free as possible. So,…
Read More
Estate Agent Talk

What Are The Factors To Appreciates The Real Estate Property Prices

Are you planning to sell your home? Are you buying a home? Whatever the scenario is, there are some things that you need to look after. In case you are selling your house, you have to set the price on the basis of those factors, or you need to ensure that all these things are…
Read More
Breaking News

WEEKLY NEWS ROUNDUP – 01/07/2022

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of ContentsHide On The Market: Housing market starts to rebalance as remarkable buyer and seller confidence prevails Renting to Students: TDS Poll Confirms Common Issues and Reasons for Disputes in Student Lets LexisNexis and Coadjute partner speeding property market…
Read More
Estate Agent Talk

How can Cash House Buying Agencies thrive in 2022?

Like many other industries in the world, the UK property market is constantly evolving. Industry players therefore need to keep a keen eye on the key markers that define the state of the industry. As 2022 ushers in new changes and realities, industry players like cash house buying agencies need to arm themselves with current…
Read More
composite gates
Home and Living

Composite Garden Fencing / Gates – Pros & Cons

As much as many of us enjoy great relationships with our neighbours, we do also relish privacy between our properties / boundaries. Years ago I remember rows of gardens with no more that a wire fence with wooden posts separating each with some having missing sections and even those totally without. Many neighbours would have…
Read More