Buyer demand is increasing in parts of the UK, analysis suggests
The latest industry data shows that buyer demand in the UK in the second quarter of 2019 was at 42.3%, a 1% increase on the previous quarter, with London seeing an increase of 1.4% so far this year.
The analysis, using data from the major property portals by Springbok Properties shows that the highest level of buyer activity is currently in Glasgow at 60.2%, closely followed by Edinburgh at 57.6%.
Sale is the most in-demand area in England at 57.3%, followed by Bristol at 56.6% while Worthing near Brighton recorded the biggest uplift in buyer demand since the start of the year with a 7.1% increase.
York at 6%, Woking at 5.2%, Mansfield at 5%, Basingstoke, Bristol and Exeter are all at 4.6%, St Helen’s at 4.4%, Southport at 4.2% and High Wycombe at 4.1% are also locations with some of the biggest increases in buyer demand.
Bexley remains the most sought-after borough in London for buyers, along with Waltham Forest, Barking, Sutton and Havering while Redbridge recorded the largest uplift quarter on quarter at 5.4%, with Sutton and Waltham Forest, seeing some of the largest increases in demand.
Shepherd Ncube, chief executive officer of Springbok Properties, believes that buyers are getting bored of Brexit and pushing on with sales but he pointed out that the resurgence remains largely refined to the more affordable cities where home owners 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.
He added that Worthing is 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 seaside. Of course, while it remains more affordable now, an influx of buyer demand will always bring an uplift in prices.’
Kindly shared by Property Wire