The property hotspots loved by 'yuppies'
- 16 May 2014
- From the section Business
Young urban professionals - a group known back in the 1980s as "yuppies" - are flocking to a limited number of property hotspots, says new research.
They are also not put off by the higher prices in their favourite haunts.
In the smarter parts of Manchester, Bristol and Birmingham they spend at least 50% more than people who buy elsewhere in the area.
But the research, by Lloyds Bank, shows that a yuppy's true spiritual home is Wimbledon, in south west London.
Indeed half of the most popular areas for the whole country are in London's SW postal district.
The research was based on figures for England and Wales from the Land Registry.
It ranks the number of home purchases made by career-minded 25 to 44 year-olds.
It also shows that when yuppies buy a property, they pay a typical premium of as much as 63% over other homes in the same city.
|Top towns for yuppies|
|Town||Postal district||Region||Average price paid (£)||Price premium|
|West Bridgford||NG2||East Midlands||227,964||48%|
|Ecclesall/Hunter's Bar||S11||Yorks and Humber||214,614||39%|
However, excluding the smarter parts of Hove and Brighton, all the most popular area for yuppies are in London.
Many are to be found along the more southerly reaches of the Northern Line, which bisects the capital.
Back in the 1980s, when the yuppy word was coined, some even had their own alternative pronunciations.
Battersea, traditionally a working class part of the capital, was pronounced in a way that rhymed with Mercia, or was otherwise known, pretentiously, as South Chelsea.
|Top yuppy locations in London|
|Area||Postal district||Average House price £ (12 months to Jan 2014)|
The typical profile used for the research involved young graduates, with professional qualifications, who are well paid, and choose to live in a city.