Bradford was the leading property hotspot in the country in the fourth quarter of 2024, research from OnTheMarket has revealed.
This is based on the number of available properties compared to the volume of onsite activity.
The West Yorkshire city of Bradford is proving popular due to strong demand from buyers who are priced out of Leeds.
Jason Tebb, president of the OnTheMarket, said: “Despite two base rate reductions in the second half of 2024 and one so far this year, mortgage rates are still significantly higher than many have grown used to.
“If you combine this with the higher cost of living and continued house-price growth in many areas, it is evident that many borrowers are struggling to get the mortgages they need to buy the homes they want.
“As well as higher borrowing costs, the post-pandemic shift towards working from home at least part of the week means buyers have more flexibility and can reasonably consider locations further away from city centres, which tend to be cheaper.”
The town of Burnley sits second place, followed by Leicester, Sunderland and Wigan – all areas known for their affordability.
Tebb added: “Despite two base rate reductions in the second half of 2024 and one so far this year, mortgage rates are still significantly higher than many have grown used to.
“If you combine this with the higher cost of living and continued house-price growth in many areas, it is evident that many borrowers are struggling to get the mortgages they need to buy the homes they want.
“As well as higher borrowing costs, the post-pandemic shift towards working from home at least part of the week means buyers have more flexibility and can reasonably consider locations further away from city centres, which tend to be cheaper.”
