London Daily

Focus on the big picture.
Saturday, May 31, 2025

Rich homebuyers shift searches to south and east London areas

Rich homebuyers shift searches to south and east London areas

London’s cheapest property hotspots, in particular those south and east of the capital, have seen the largest increase in residents with high-earning jobs
Wealthy London buyers may have once confined their house hunt to popular urban villages in Zones 1 and 2, but rising prices are even pushing those with higher-than-average salaries — and therefore more borrowing power — out to the south and east of the capital.

Dartford in Kent, its neighbouring London borough of Bexley and Newham in the east all recorded 34 per cent growth in the number of high-earning people living there in the decade leading to the 2021 Census, according to exclusive data from estate agent Savills.

People with high-earning occupations — ‘wealth drivers’ — are categorised as managers, directors, senior officials and those that have professional roles in the Savills research.

Bexley and Newham, consistently among London’s cheapest areas to buy a home, along with Dartford all have average property prices well below the wider London figure of £542,000.

“London house prices are such that if people want to meet requirements for space, they will be pushed into areas where they can stretch their savings and borrowing potential further,” says Lucian Cook, head of residential research at Savills.

“This has been particularly apparent over the past three years when the demand for homes with coveted private outdoor space, as well as a place for a home office has spiralled.”

Prices in the Olympic borough of Newham more than doubled to hit £440,000, having seen price growth of 103 per cent since 2011.

In Bexley, property prices rose 84 per cent to £420,000, while in Dartford prices rose 75 per cent to £365,000.

Table: London and surrounding areas with the largest 10-year growth in high-earning residents

Some of London’s most expensive boroughs are home to the greatest number of high-earning occupations. The City of London, Richmond upon Thames and Kensington & Chelsea have more than 54 per cent ‘wealth driver’ roles.

In the City, where 65 per cent of residents have high-earning jobs, the average property price is now £828,112. Although, with a small sample size of just over one square mile, property prices in the area are often skewed by limited stock or high-value listings.

Named London’s happiest place to live for the eighth consecutive year in December, Richmond upon Thames has an average property price of £976,160 and more than half of residents there (55 per cent) work in high-earning roles.

The ultra-exclusive Kensington & Chelsea borough, which has an average house price of £2,409,454, comes in third place for high-earning occupations with 54 per cent of residents in manager or senior official roles.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×