London's hottest postcodes: the areas where buyer demand keeps rising despite the downturn
The outer east London cluster of Wanstead, Leytonstone, Walthamstow, Forest Gate and South Woodford are the hottest-selling postcodes in the capital, driven by young families pushing out from Hackney to get on the ladder or get more property for their money.
These micro housing markets are busy in stark contrast to the paralysis that has gripped the wider London housing market.
Only last week Halifax revealed that the average price of a London home had fallen £26,514 (4.8 per cent) over the past 12 months.
An online tool that measures the proportion of advertised homes that are under offer in a postcode versus those that are not has ranked E11 as the best local market for sellers with demand outstripping supply.
“Buyer demand is strongest in Wanstead-Leytonstone (E11) and Highbury (N5) with the hottest temperatures both at 56 degrees — meaning 56 per cent of homes listed for sale are under offer, indicating a very hot sellers’ market,” explains PropCast founder Gavin Brazg.
Of the 10 postcodes, seven are in east London, reflecting perceived value for money and affordability, says Anna Minton, author and reader of architecture at the University of East London.
“Put simply, the London property market is so expensive and so overheated that these parts of
