According to the data, Wales has enjoyed an uplift of +6% now at 33% nationwide, with Scotland close behind with a 5% increase, while property demand across England has fallen by -3% over the start of 2018.
Hottest Cities
Swindon currently ranks as the hottest city for property demand at 66%, followed by Glasgow (66%), Newport (61%), Edinburgh (60%) Ely (57%), Gloucester, Ashford, Solihull and Coventry (56%) and Bromsgrove (55%).
London
Looking to the capital, a tough time for London homeowners continues with demand down -15% in Q1 to 23%. Bexley remains the most in demand at 52%, followed by Bromley (38%), Barking and Dagenham (37%), Lewisham (34%) and Croydon (33%).
Although home to a low level of buyer demand (16%), Hammersmith and Fulham has seen the biggest increase in demand in 2018 (+43%), along with Newham (+30%), Kensington and Chelsea (+30%), Westminster (+17%) and Lambeth (+16%).
The London Commuter Belt
While market conditions look bleak in the capital, London’s commuter belt is enjoying current demand levels of 40%, although this has waned by -5% in 2018.
At 56%, Ashford in Kent is the hottest spot in the commuter belt for current demand along with Folkestone (54%), Rochford (52%), Stevenage (52%) and Colchester (52%). Tonbridge has seen the largest increase in demand (+36%), with Wycombe (+17%) and Colchester (+17%).
Hottest Counties and Regions
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.
Newport remains the hottest spot in Wales at 61%, with Powys enjoying a +34% increase from Q4, the largest in Wales. Argyll and Bute has seen the largest increase north of the border (+38%) with Glasgow enjoying the third highest (+23%), also still the hottest spot in Scotland for current demand at 64%.
Russell Quirk, founder and CEO of Emoov.co.uk, commented: “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.
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 remain restricted for the large part.
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.”
