Buyer demand picking up in certain locations across Britain, hotspot index shows
The property market across Britain has remained static since the fourth quarter of 2017 with Swindon and Glasgow top for buyer demand, according to the latest hotspot index.
The data from online estate agent Emoov shows demand overall at 36%. Wales has recorded a rise of 6% to 33% nationwide, with Scotland close behind with a 5% increase, while property demand across England has fallen by 3% since the start of 2018.
The highest demand is in Swindon and Glasgow, both at 66%, followed by Newport in Wales at 61%, Edinburgh at 60, Ely at 57%, and Gloucester, Ashford, Solihull and Coventry a;; at 56% with Bromsgrove completing the top 10 at 55%.
The biggest changes in demand were found in Bracknell with a rise of 59%, the Wirral up 46%, Winchester up 38%, Tonbridge up 36% and St Helens up 35%.
Buyer demand in London has fallen, down by a further 15% to 23% overall with the data showing that Bexley, Bromley and Barking and Dagenham are the hottest boroughs for current demand.
Despite low levels of current demand Hammersmith and Fulham, Kensington and Chelsea, Westminster and Lambeth have seen some of the biggest increases in demand this quarter.
In London’s commuter belt demand has also fallen, down by 5% in 2018. At 56%, Ashford in Kent is the hottest spot in the commuter belt for current demand along with Folkestone at 54%, and then Rochford, Stevenage and Colchester all at 52%.
Bristol is the hottest county in England for current demand at 55% while the West Midlands has enjoyed the largest uplift with an increase of 36% so far in 2018.
‘Market activity has remained subdued throughout the start of the year, but it seems as if the tide is finally starting to turn and we should see conditions improve as the year goes on,’ said Russell Quirk, Emoov chief executive officer.
‘There are plenty of pockets across the nation that continue to see strong levels of buyer interest, however, market uncertainty has seen many sellers refrain from selling and in turn, the lack of varied stock has seen buyer demand, in general, remain restricted,’ he pointed out.
‘As we now enter the busiest period of the year for home sellers and buyers, we should see demand across the board stabilise and along with additional factors, such as the intended improvement in the regulation of estate agents, confidence will start to return to the UK property market,’ he added.