Navigating the London property market, whether renting or buying, can be a daunting task. However, a recent study has unveiled the most sought-after London borough for first-time buyers: Brent, situated in the northwest of the city.
This finding, based on data from Hamptons Estate Agents, reveals that a staggering 77% of homes in Brent were purchased by first-time buyers during the first six months of 2024. Following closely behind are Greenwich (72%), Newham (69%), and Tower Hamlets (63%). Other boroughs, including Barking and Dagenham, Havering, and Waltham Forest, also saw a significant share of first-time buyer purchases, with 60%, 59%, and 54% respectively.
While the London property market remains competitive, this trend signifies a record-breaking 48% of homes sold in the capital being acquired by first-time buyers in 2024, compared to 41% in 2023 and 28% in 2014.
Despite its popularity, Brent hasn’t received universal acclaim. Some online commentators have described it as an ‘eyesore’ and lacking in attractions. Yet, the borough possesses a compelling mix of amenities that make it an appealing choice for young homebuyers.
Brent boasts proximity to nature, with green spaces such as Roundwood, Gladstone, and Fryent Country Park, as well as the wildlife-rich Welsh Harp Reservoir. The area also features a thriving community atmosphere, evident in events like the weekly Queen’s Park Farmers Market, which attracts around 40 stalls every Sunday.
For those seeking cultural experiences, Brent offers Wembley Stadium, the iconic home of English football and recent host to Taylor Swift’s Eras Tour. Wembley Arena, known for hosting legendary performances by Queen, Madonna, and Adele, is also located nearby.
In terms of transport, Brent, despite being located in Zone 3, enjoys excellent connectivity with 21 Tube stations. Willesden Green station on the Jubilee line offers direct trains to Waterloo, taking around 20 minutes. Other stations within the borough served by the Overground and Bakerloo lines include North Wembley, Stonebridge Park, Harlesden, and Queen’s Park.
While Brent’s popularity among first-time buyers is undeniable, it’s important to acknowledge that the borough is not immune to London’s high property prices. According to Rightmove, the average home price in Brent over the past year was £703,211, with flats averaging at £448,628 and terraced properties fetching £985,396. This figure significantly surpasses the UK-wide average house price, which stood at £266,400 in July, according to Zoopla.
Despite the cost, Brent offers a blend of community spirit, cultural attractions, and green spaces, making it an understandable choice for first-time buyers seeking a vibrant and accessible location within the London metropolitan area.
