Taylor Scott International News
Property demand across the UK as a whole fell by 5% in the first quarter of 2016 to 39% overall but demand is still up 9% compared to the same period in 2015. London’s outer boroughs and commuter belt continue to outperform the rest of the country where property demand is concerned, according to the hot stop index from estate agent eMoov. With demand at 72%, the London Borough of Bexley remains the hottest spot in the UK once again while Bristol at 68% climbs from third to second and Bedford at 66% was up four places to third. Cambridge and Watford, both at 62%, remain in the top 10 but have dropped down the rankings and outside the top five while Medway at 63% and Milton Keynes at 61% appear in the top 10 at fifth and ninth. Aylesbury at 63% also returns to the top 10 in sixth for the first time since the start of 2015. With demand currently at 65% Ipswich is placed in the top 10 for the first time to take fourth place and the report suggests that a direct commute into Liverpool Street of just over an hour is making the town more popular with London workers searching further afield for affordable property. Aberdeen with demand at 15% is one of the lowest cities on the list but it has seen a 50% increase over the last quarter so that property demand has returned to the same level as this time last year and the city is now off the bottom spot. At 27% Durham is the second biggest climber over the last three months and has also seen the biggest increase in demand over the last year across the whole UK at 90%. Second biggest climber year on year is North Lanarkshire in Scotland with a 67% growth in demand, followed by Barnet up 57%, Sandwell up 56%, Bolton up 45%, Gloucester up 42% and Manchester up 40%. Aberdeen’s shift up the table means it is now only the fifth coldest spot in the UK. Now at the bottom are the London boroughs of Westminster and Kensington and Chelsea, both at 12%. ‘It is interesting to see that despite the rush ahead of April’s stamp duty deadline, the UK market as a whole has cooled during the first half of the year. Although it’s undoubtedly a seasonal influence due to the festive period, it would seem that those looking to push through a second home or buy to let purchase, didn’t have the overall demand impact that many thought they would,’ said the firm’s chief executive officer Russell Quirk. Taylor Scott International
Taylor Scott International, Taylor Scott
