Walthamstow in North East London is the most popular area with £212.4m worth of property purchased through the scheme here.
Walthamstow in North East London is the most popular area for properties purchased through the Help to Buy ISA scheme by value, London estate agent Ludlowthompson has found.
South London accounts for six of the top 10 areas out 650 places in the UK for purchases through the Help to Buy ISA scheme.
Some £212.4m worth of property has been purchased through the scheme in Walthamstow, which is near the Olympic Park.
Stephen Ludlow, chairman at Ludlowthompson, said: “Saying that Croydon is the new Shoreditch no longer gets you labelled as an eccentric.
“The arrival of BoxPark and artisan street food markets in Croydon, Lewisham and Tooting are just the latest leg in their movement upmarket.
“Shrewd property investors identified Peckham’s potential over decade ago.
“Now its areas like Croydon and Lewisham that are the rapidly gentrifying parts of London with increasing numbers of independent bars, art studios and foodie haunts.
“These are the areas that young people want to buy in. Much of Clapham, Brixton and other traditional first-time buyer areas are less affordable now.”
Lewisham is in second place with £211.1m of residential property.
The South London corridor of Central and North Croydon came sixth and seventh in the league table.
The popularity of South and East London areas for users of the Help to Buy ISA scheme has partly been helped by programmes to regenerate those previously overlooked parts of London.
Major transport improvements and private sector investment have helped those areas become more appealing as places to live.
Walthamstow has received £200m to regenerate its town centre.
Ludlow added: “Help to Buy has been instrumental in helping many first-time buyers to get on the property market.
“Now that it’s ended first-time buyers will need to consider alternative financing options, such as the Lifetime ISA.”
