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The property hotspots loved by 'yuppies' | The property hotspots loved by 'yuppies' |
(about 9 hours later) | |
Young urban professionals - a group known back in the 1980s as "yuppies" - are flocking to a limited number of property hotspots, says new research. | Young urban professionals - a group known back in the 1980s as "yuppies" - are flocking to a limited number of property hotspots, says new research. |
They are also not put off by the higher prices in their favourite haunts. | They are also not put off by the higher prices in their favourite haunts. |
In the smarter parts of Manchester, Bristol and Birmingham they spend at least 50% more than people who buy elsewhere in the area. | |
But the research, by Lloyds Bank, shows that a yuppy's true spiritual home is Wimbledon, in south west London. | But the research, by Lloyds Bank, shows that a yuppy's true spiritual home is Wimbledon, in south west London. |
Indeed half of the most popular areas for the whole country are in London's SW postal district. | Indeed half of the most popular areas for the whole country are in London's SW postal district. |
The research was based on figures for England and Wales from the Land Registry. | The research was based on figures for England and Wales from the Land Registry. |
It ranks the number of home purchases made by career-minded 25 to 44 year-olds. | It ranks the number of home purchases made by career-minded 25 to 44 year-olds. |
It also shows that when yuppies buy a property, they pay a typical premium of as much as 63% over other homes in the same city. | It also shows that when yuppies buy a property, they pay a typical premium of as much as 63% over other homes in the same city. |
However, excluding the smarter parts of Hove and Brighton, all the most popular area for yuppies are in London. | However, excluding the smarter parts of Hove and Brighton, all the most popular area for yuppies are in London. |
Many are to be found along the more southerly reaches of the Northern Line, which bisects the capital. | Many are to be found along the more southerly reaches of the Northern Line, which bisects the capital. |
Back in the 1980s, when the yuppy word was coined, some even had their own alternative pronunciations. | Back in the 1980s, when the yuppy word was coined, some even had their own alternative pronunciations. |
Battersea, traditionally a working class part of the capital, was pronounced in a way that rhymed with Mercia, or was otherwise known, pretentiously, as South Chelsea. | Battersea, traditionally a working class part of the capital, was pronounced in a way that rhymed with Mercia, or was otherwise known, pretentiously, as South Chelsea. |
The typical profile used for the research involved young graduates, with professional qualifications, who are well paid, and choose to live in a city. | The typical profile used for the research involved young graduates, with professional qualifications, who are well paid, and choose to live in a city. |
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