Properties in west London are selling significantly faster than their east London counterparts, according to a report Wednesday from real estate analyst LonRes.
Between April and June, an average of 20.9% of properties in prime areas of west London sold within the first three months of being on the market.
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Across the city, in prime areas of east London, that figure is lower with just 9.4% of properties selling within three months, the report said.
In the same time frame, the price per square foot of sold properties rose 4.4% in west London, and decreased 6.4% in east London.
East London has become increasingly popular in recent years, appealing to everyone from businesses to hipsters due to its new developments, relative affordability and improving transport links.
But west London is holding its own with development projects like White City, a former industrial and broadcasting hub in the midst of a regeneration that’s transforming it into a hotbed of new housing and development.
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Data also showed that the annual change in sales prices is down just 0.6% in west London, while in the east, sales prices are down 5.3% annually.
"In a climate where many are choosing to move out of London or indeed to the east, it is promising to see several clients returning from east London and some never leaving in the first place," said Paul Cosgrove, director at Finlay Brewer a west London estate agency.
"The established attractiveness of west London can only be improved upon as new developments arise which will parallel those in the east in a charming and eclectic western environment," he added.