Buyer demand on the rise during Q2

The latest research from Springbok Properties, has 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.

Related topics:  Property
Warren Lewis
2nd July 2019
SOLD

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.

Shepherd Ncube, Founder and CEO of Springbok Properties, commented: “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.

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