Property demand remains static so far in 2018

Michael Lloyd

April 23, 2018

After seeing a slow decline over the last year, property demand across the UK was static in the first quarter of 2018, online estate agent, Emoov found in its National Property Hotspots Index. 

Wales has enjoyed an uplift of demand, with Scotland close behind after an increase.

Demand in England has fallen slightly in 2018 so far.

Swindon currently ranks as the hottest city for property demand, followed by Glasgow, Newport, Edinburgh, Ely, Gloucester, Ashford, Solihull, Coventry and Bromsgrove.

Russell Quirk, founder and chief executive of Emoov.co.uk, said: “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.”

In London demand has fallen significantly in the first quarter of the year. However Bexley remains the most in demand,followed by Bromley, Barking and Dagenham, Lewisham and Croydon.

Although home to a low level of buyer demand, Hammersmith and Fulham has seen the biggest increase in demand in 2018, along with Newham, Kensington and Chelsea, Westminster and Lambeth.

While market conditions look bleak in the capital, London’s commuter belt is enjoying stronger demand, despite it waning so far this year.

Ashford in Kent is the hottest spot in the commuter belt for current demand along with Folkestone, Rochford, Stevenage and Colchester. Tonbridge has seen the largest increase in demand, with Wycombe and Colchester.

Bristol is the county in England with the most demand while the West Midlands has enjoyed the largest uplift so far in 2018.

Newport remains the hottest spot in Wales, with Powys enjoying the largest increase in Wales.

Argyll and Bute has seen the largest increase north of the border, with Glasgow enjoying the third highest.

Glasgow has the strongest demand in Scotland.

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