London property: Up-and-coming West London postcode where buying a property could turn you into a millionaire

Buying a property in an up-and-coming West London postcode could turn you into a millionaire in the not-so-distant future.

Savvy property buyers who purchased in areas such as Hoxton, Leyton and Marylebone before they became trendy are now millionaires.

Now Hayes in Hillingdon is being tipped by Rightmove as the next hotspot that could see exponential growth in property value over the next few years.

READ MORE: Pretty commuter village 1 hour from London named one of the best places to live with Outstanding schools and beautiful cottages

Finding in research carried out by the online estate agent has identified UB3 as the area which has seen the biggest jump in buyer demand over the past year.

They have monitored the number of requests for property information and viewing in the area, and included other key changes in the area as well.

Why Hayes?

Rightmove say that demand in Hayes has increased by a whopping 74 per cent year on year.

Why? Partly because Hayes has benefited not from the imminent arrival of Crossrail.

Hayes and Harlington station will be the final station on the Elizabeth line, which is set to arrive in mid-2022.

Affordable family homes is the other key reason why Hayes is being tipped so heavily by Rightmove.

Gurpreet Mahal, a director of Fine & Country, said most of his buyer are first timers able to skip the flat-owning stages of the property ladder and looking for a three bedroomed semi with a budget of around £430,000.

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He said: “We have been in the area for ten years and prices have been increasing in all that time, ever since Crossrail was announced,

“But it is still relatively affordable.”

The average sale price in Hayes stands at just under £470,000 according to Rightmove, up from £407,000 a year before.

Hayes’ plus points include plentiful parkland and popular schools (the vast majority hold “good” Ofsted reports). The main downside is the high street which, while improving, is still dominated by discount stores and fast food.

Gurpreet added: “There are a lot of new developments around the station which have commercial units, and I think the hope is that they will make a big impact on the environment.

“Covid has had a big impact on that, nobody is taking leases at the moment, so it is going to take a bit longer but it will happen.”

South Chelsea (21 per cent Increase in demand in 2021), Victoria (19 per cent) and Barking (12 per cent) are also on the list, but Hayes is the one taking top spot with 74 per cent.

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