Figures from Lloyds Bank show that some young professionals are happy to pay a premium of up to £90,000 to live in their perfect home in their preferred area.

Premium prices

Young professionals – aged 25 to 44 – are willing to pay for what they want, according to the latest Lloyds figures. These aspiring workers are typically well-qualified, with well-paid jobs and want to live in areas not far from the city centre where they work.

The average price of a home in one of the 20 most popular areas with young professionals is £735,874 compared to £664,716 in the surrounding areas – 13% higher, or a difference of £71,158.

What they want

These young urbanite professionals might not all have the same desires and dreams in life, but many will have a good idea of what they want from their new home.

Easy access to green space

As many will live in city centres or near transport hubs, they might not have the garden size they desire. So instead there is a need to be close to green spaces that they can access easily. It’s no surprise then that Hampstead was so popular, with young professionals willing to pay a 29% premium to be located here – that’s around £307,775 extra to be close to the heath.

Range of places to socialise

While young professionals often used to head straight to bars and pubs after work, due to more flexible working hours, demands of family life and a changing work culture, many now want such places closer to home.

These can range from high-end restaurants to a good local pub. It’s why places like Brighton, Fulham and Brixton all featured highly on the list.

Local amenities

Outside of night life, they also wanted to be near good local amenities. While many of this group would do their banking – and even much of their shopping – online, they were still more likely to have recently shopped at stores such as Waitrose and John Lewis.

Good sized homes

Many of the young professionals are also part of a young family. This means they’ll be looking for homes that can either accommodate their current family or into which they can expand in the future.

Research from Hometrack shows people are spending more time in their current homes, with years between moves rising from just over 14 in 2003 to over 20 in 2014. This means homes need to be large enough to grow into over these two decades.

Near transport hubs

Hove was the most popular choice partly down to the fact that those living there could easily access Brighton when needed. The same goes for Didsbury, which was the highest ranking area outside of the south, thanks to its regular tram service to Manchester.

Close to good schools

As many of the young professionals are family orientated, being within the catchment area for good schools is a priority. It’s no surprise places like Hammersmith, Fulham and Wimbledon ranked so high, as all are close to some of the best schools in the city.

Well connected

These young professionals are part of the internet generation with over a third spending more than 3 hours a day online. This means that any home they’re viewing needs to have fast broadband. Not only do they spend hours online streaming TV shows, but many will work from home so need good connections.