Monday, October 1, 2012

Tooting postcode tops income list

Research has found that income per home in one particular postcode in Tooting is £66,100, higher than anywhere else in the country including traditionally upmarket areas such as Knightsbridge, Kensington and Chelsea.
The figures are contained in the Wealth of the Nation 2012 report by CACI, a data company that specialises in postcode analysis.
Meanwhile a postcode in Salford Quays in Manchester was found to have the sixth highest average household income in the UK at £63,700 due to the BBC moving much of its operations there.
Tooting Common in south west London. Image: Stefan Rousseau/PA WireNeither Tooting or Salford were in the top 10 the last time that CACI carried out the research in 2006.

The company admitted that the results are “surprising”.
CACI it said that the Tooting postcode in question - starting SW17 6 - is home to a large number of “well-educated, senior managerial young couples”, meaning that many homes have two generous incomes.
Its research found that a noticeable absence of poorer retirees in the postcode in question means that the average income in the postcode remains high.
The area in question borders Tooting Graveney Common and contains a high proportion of newly-built houses and flats.
Property prices in Tooting have risen sharply in recent years due to its proximity to green space and large selection of pubs, bars and restaurants, including some of London’s best curry houses.
The area is also attractive to young professionals as it is located on the Northern Line of the underground and therefore has good transport links into the City of London.
Farhad Ahmed, a member of the Balham and Tooting Community Association, said that Tooting’s attraction is its diversity. However he said that not all parts of Tooting are affluent.
“The area is really diverse. Parts have the highest average income but there are also areas that are very deprived. You find people with low the lowest incomes there as well with half a mile of that area. It is a strange mixture, really.
He said that house prices in Tooting have “steadily gone up” but said there are places “about three-quarters of a mile away that you’ll find are the lowest prices properties in the borough”.

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