Notting Hill only London area to make list of top global markets ‘primed for post-pandemic growth’
With its private communal gardens and “Bohemian meets super cool” atmosphere, Notting Hill was identified in a list of top global markets “primed for growth in a post-pandemic world”.
The west London district was the only area in the capital to be named in Knight Frank’s Next Neighbourhoods 2021, as well as one of just two UK areas cited in the round up.
The 47-strong list of international neighbourhoods is assembled annually by the estate agent to identify districts around the world it expects to boom in the coming 12 months.
This year, the list was divided into four categories including “Digital Nomads”, “Value Opportunities”, “Space Hunters” and “Resilient Markets”.
“With 16 incredible communal gardens, many properties in W11 offer a taste of country living in the city, currently in strong demand,” said senior research analyst, Chris Druce.
“Many of those who come to us for help and advice tell us something that we’ve known for quite some time – that once you put down roots in this very special place, W11 becomes part of your DNA.”
Notting Hill is among London’s most expensive neighbourhoods in its most expensive borough, Kensington & Chelsea. Flats in the area start from around £500,000 while family homes run into millions.
The Next Neighbourhoods list also features Birmingham’s Jewellery Quarter as one of the best “value opportunities” in the world, citing its “proximity to the city core, upcoming regeneration and access to new transport” as indicators for growth.
It also includes Bray in Ireland’s County Wicklow, noting that the seaside holiday destination had recently become “a busy commuter town and popular residential area for families.”
The report noted that the pandemic had altered the global market by making travel difficult, it had also opened up new opportunities for some parts of the world.
“The natural environment, connectivity – both in terms of technology and community – as well as privacy, are now more important than ever,” wrote Kate Everett-Allen, head of international residential research at Knight Frank.
“Travel restrictions may be clipping the wings of prime buyers but with fewer people tethered to an office, this is likely to change with knock-on effects for second-home markets and investors globally.”
Europe dominated the list, with five mentions for Italy alone, as well as nods for Spain, France, Germany, Switzerland, Austria and Portugal.
Two neighbourhoods in Kenya made the list – Miotoni in Karen, and Tigoni in Limuru – and were among the six African locations highlighted, along with areas of Zambia, Uganda, Nigeria and South Africa. Six locations in Asia – one each in China, Malaysia, Singapore, Japan, South Korea and the UAE – also featured.
