One in 10 people in their twenties say that living in a trendy area such as Shoreditch is one of the most important considerations when looking for a home.
Indeed a third of the 2,000 twentysomethings polled by Privilege home insurance said they have lied about where they live to make themselves look better, while nearly three quarters said they picked the area where they currently live to boost their reputation.
"For young househunters, it seems that image is everything," said Dan Simson, head of home insurance at Privilege, "right down to how trendy the location is. For lucky buyers, the 'hipster' effect can see their home increase in value exponentially, without so much as a lick of paint. However, for renters it can often result in them being priced out of an area altogether once the time comes to renegotiate their contract."
Only six per cent said they consciously chose an area because of its potential as a financial investment.
Homes and catchment areas
One in 10 parents are prepared to pay at least £50,000 extra for a home in a good school catchment area, according to new research from Confused.com.
Nearly a third of parents said that they had moved house in order to be in the catchment area for a desirable state school. On average, they would be happy to pay a £19,000 premium to do so. Instead of buying, a quarter of parents say they would consider renting an additional property in the chosen catchment area to secure a place for their child.
One in five parents also say that they started thinking about what school to send their child to before their children were born.
A survey by Llloyds Bank last month indicated that wealthier parents are paying a property premium of up to half a million pounds for houses in school catchment areas such as Beaconsfield High School in Buckinghamshire.
Single property landlords
Just over a quarter of landlords who let out a single property only break even or run at a loss, according to the National Landlords Association (NLA), as do around a fifth who let out between two and four properties.
"A significant number of landlords struggle to make ends meet," said Carolyn Uphill, Chairman, NLA. "For many, being a landlord isn't just about watching rent money roll in."
Property hotspots movement
Latest statistics from eMoov.co.uk based on data from Rightmove and Zoopla indicate the areas with the biggest rise in demand for properties are Medway (up 22 per cent since June), Wiltshire (12 per cent) and Bedfordshire (up nine per cent). Demand in Newcastle upon Tyne has also jumped 11 per cent since February.Reuse content