Croydon was the most popular location among UK homebuyers in the last five years, according to a new report by Mortgage Advice Bureau (MAB).

Within the London boroughs, Croydon has emerged as the most sought-after area, with an average property price of £409,800.

At just below the London average of £421,000, the price difference made it an accessible entry point into the London market, said MAB. This was particularly true for first-time buyers keen to live in the Greater London area.

Croydon’s popularity amongst homebuyers has emerged thanks to data generated by the My MAB and Home Buying app.

Rachel Geddes, strategic lender relationship director at Mortgage Advice Bureau, said:

“For aspiring homebuyers, there’s never been a more exciting time to take that first step onto the ladder – regardless of where they may be based. Our data paints a clear picture: buyer confidence and demand are soaring.

“With mortgage lenders constantly finetuning affordability stress testing and introducing new, innovative products, prospective buyers can borrow more than they could even compared to a few months ago.”