The London Borough of Sutton, previously regarded as one of the least favourable areas of the capital, has seen a huge change in fortunes. According to Zoopla properties in the area receive offers faster than any other location in the city. The speed at which these homes come under offer shows just how popular the area is.
The data was obtained by looking at how quickly properties listed on the Zoopla website on or after 1st January 2016 changed to being under offer. The figures show that the national average is 47 days. In Sutton though, it takes an average of just 28 for this to happen. This makes it the fastest selling area in the whole of London. Havering and Bexley followed closely at 29 days.
The comparison between inner and outer London gives a stark impression of where buyers are currently focused. The fastest selling Borough in the former was Haringey in 10th place. The other nine locations are all in the outer Boroughs. Popular inner areas like Camden (58 days), Westminster (70 days), and Kensington and Chelsea (83 days) spend more time on the market.
In the UK as a whole Northampton sees properties change to under offer in the shortest space of time. According to the data it takes just 27 days for this to happen. This puts the most highly sought-after suburban areas in outer London just marginally behind.
As you can see Sutton has become a very highly regarded area, a big change over previous views towards it. There are several reasons for this including the affordability and improvements in transport links.
At Finefair we have seen a big rise in the number of owner occupiers and investors choosing properties in outer Boroughs. The services we offer such as block management in Sutton, guaranteed rent, and council leasing have all risen in popularity as a result of the latter. Clients enjoy working with us because we focus on achieving their goals effectively and have a friendly yet highly professional team.