Demand for London property is accelerating fastest in the outer suburbs, according to new research. 

Property website Rightmove found the number of buyers looking to purchase in Zone 6, at the end of the commuting lines, was increasing more rapidly than the number of new buyers in central Zone 1 areas.

Its figures show this is a compete reversal of the trend seen a year ago, and may indicate how the coronavirus pandemic and switch to remote working practices is influencing people’s buying criteria.

Rightmove found that in London Zone 6, the number of buyers had increased by 108 per cent in September 2020, when compared to the year before.  When looking at figures from 2019, buyer enquiries had risen by just 9 per cent year on year.

In contrast the number of property buyers in zone one have risen just 7 per cent, from September 2019 to September 2020. Previously there was a  41 per cent increase in buyers between 2018 and 2019 in these areas.

This data is based on the number of buyers sending enquiries to estate agents on Rightmove, rather than actual sales. 

Rightmove’s head of property data Tim Bannister says: “Agents have been reporting a number of people selling up in the inner London zones and moving further out.

“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.”

He adds that data looking specifically at demand along the various stops of the Northern Line highlights the different between inner and outer zones. The two most central stops, Moorgate and Bank, have seen the number of buyer enquiries plunge by  34 per cent and 16 per cent respectively over the past year.

In contrast High Barnet, at the end of the line, has seen a 166 per cent increase in buyer enquiries. 

Bannister adds: “The 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.”