The latest research by national fast sale estate agency, Springbok Properties, has looked at where across the UK is bucking the wider market trends of Brexit uncertainty to register the highest levels of buyer demand in Q2 of this year, and where has seen the biggest uplift since the start of the year.
Using data from the major property portals, Springbok looked at where has seen the largest levels of buyer demand across the UK’s most populated towns and cities, based on the total ratio of the stock listed for sale and that which has already gone under offer or sold subject to contract.
The data shows that across the UK, demand is currently at 42.3%, a 1% increase on the previous quarter, with London seeing an increase of 1.4% so far this year.
It’s a Scottish one-two where current demand is concerned, with the most buyer activity currently in Glasgow at 60.2%, closely followed by Edinburgh (57.6%). Sale is the most in-demand area in England at 57.3%, closely followed by Bristol (56.6%).
At 49.3%, Belfast ranks 14th overall and the first entry for Northern Ireland, with Cardiff the first for Wales, sitting at number 26 with current demand at 47.7%
Worthing near Brighton is home to the biggest uplift in buyer demand since the start of the year with a 7.1% increase. York (6%), Woking (5.2%), Mansfield (5%), Basingstoke (4.6%), Exeter (4.6%), Bristol (4.6%), St Helen’s (4.4%), Southport (4.2%) and High Wycombe (4.1%) are also home to some of the biggest increases in buyer demand.
Bexley remains the most sought-after borough for buyers in the capital, along with Waltham Forest, Barking, Sutton and Havering.
While buyer demand change in London remains more muted than the wider UK, Redbridge has enjoyed an uplift of 5.4%, with Sutton and Waltham Forest, not just the hottest currently, but also enjoying some of the largest increases in demand since Q1 as well.
Founder and CEO of Springbok Properties, Shepherd Ncube said, “Slowly but surely we are seeing UK home buyers grow bored of Brexit and push on with a sale despite the fact that we as a nation are still staring into the political unknown.
“This resurgence remains largely refined to the more affordable cities where homeowners have seen their property potential decline at a more marginal rate, and as a result, they are happy to sell even if it means adjusting their asking price expectations.
“Worthing is certainly benefiting from the ripple effect of buyers looking outside of Brighton. House prices in Brighton have become inflated due to the ability for buyers to work in the city by week and spend their weekends at the sea-side. Of course, while it remains more affordable now, an influx of buyer demand will always bring an uplift in prices.”
|Top 10 UK by current demand||Top 10 UK by Q-change|
|Bottom 10 UK by current demand||Bottom 10 UK by Q-change|
|Top 10 London Boroughs by current demand||Top 10 London Boroughs by Q-change|
|3||Barking and Dagenham||45.1%||3||Waltham Forest||4.8%|
|Bottom 10 London Boroughs by current demand||Bottom 10 London Boroughs by Q-change|
|1||Westminster||11.3%||1||City of London||-2.3%|
|2||Kensington and Chelsea||13.4%||2||Hounslow||-2.1%|
|3||City of London||15.7%||3||Tower Hamlets||-1.1%|
|5||Camden||19.5%||5||Barking and Dagenham||-0.5%|
|7||Hammersmith and Fulham||22.9%||7||Lewisham||-0.3%|
*Demand percentage calculated based on the ratio of properties sold to those for sale. So if 100 properties are listed in total, but 60 have already sold subject to contract or are under offer, this area would score a demand percentage of 60%. A higher demand score indicates higher levels of demand as more properties have left the market as SSTC or under offer.