Even if remote working continues as “the new normal” in 2020, transport will still remain a crucial factor for prospective buyers looking for property in London. Even if people don’t need to head into the heart of the capital on a daily basis, there is a lot to be said for getting around London quickly and easily.
Hopefully by the summer, we will be moving forward, and it is likely many people will want to spend a lot of time outside their home, socialising with others. Transport will be at the heart of this, and Bromley is well served for reliable train services connecting you to the heart of the capital and beyond.
Bromley South railway station is in Travelcard Zone 5, while Bromley North railway station is in Travelcard Zone 4.
We are pleased to say we have helped many buyers and vendors across Bromley, and we know there has been a greater level of demand for homes in this area. If you would like any assistance in the Bromley property market, please get in touch.
Buyers are moving further along the Travelcard Zones
In September 2020, Rightmove considered the demand for property by Travelcard Zones, and ranked it to the previous year.
Between September 2018 and 2019, there was an 8% increase in demand for homes in Zone 5, but between September 2019 and 2020, the increase in demand was 103%. 2020 was a unique year, but the change in buyer demand to the outer reaches of the commuter line indicates many households were looking to move further afield.
There was an even greater switch for property in Travelcard Zone 6. In Zone 4, the increase wasn’t as prominent as 5 and 6, but for the year between 2019 and 2020, there was a growth of demand by 76%.
Outer London is becoming more appealing
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.”
If you are looking to make a move in the Bromley property market, and you would like to speak with local experts, please get in touch. If you would like to arrange a property valuation, contact us and we will set this up for you. You can phone your BR Estate Agent on 020 3633 8620 from 9am till 9pm seven days a week or visit our website www.br-estateagent.co.uk for more information.