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UK property hotspots and ‘not-spots’ revealed

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
05/10/2020

Demand for property is soaring in most areas, but where are the current hotspots and where is buyer demand muted?

Buyer demand levels are at their highest since the start of last year, at 51%, according to GetAgent.

The estate agent comparison site reported a rise in demand of 9% annually, and a huge 8% increase in the last quarter alone, fuelled by the Stamp Duty holiday which has spurred on buyers to get moving.

GetAgent works out the level of current demand based on the proportion of stock listed as already sold (sold subject to contract or under offer) as a percentage of all stock listed for sale. So, if 100 homes are listed and 50 are already sold, the demand score would be 50%.

Demand hotspots

The strongest areas for current buyer demand are also some of the more affordable, with Falkirk taking top spot at 73%.

Top 10 hotspots for current demand

Falkirk – 73%
Glasgow – 68%
Sale – 64%
Wigan – 63%
Sheffield – 63%
Warrington – 63%
Worthing – 62%
Dartford – 61%
Oldham – 61%
Dundee – 60%

The 10 places where demand for property is lowest

Aberdeen – 15%
Derry – 33%
London – 35%
Slough – 36%
Salford – 37%
Oxford – 40%
Peterborough – 41%
Blackpool – 41%
Carlisle – 42%
Sunderland – 42%

London ranks as the third coldest spot for buyer demand overall. It’s also amongst the cities to have seen the most marginal increases in buyer demand, with just a 3.6% increase quarterly and a 2.3% uplift annually.

Founder and CEO of GetAgent.co.uk, Colby Short, said: “The meteoric uplift in UK homebuyer demand in the third quarter of this year demonstrates a market that has well and truly bounced back from pandemic paralysis.

“It’s fair to say that the current stamp duty holiday in its various forms across England, Wales and Scotland has played a huge part in this revival and should continue to do so over the final quarter of 2020 at the very least.

“This is great news for home sellers who may have seen the value of their property plateau or even fall during the prolonged period of Brexit uncertainty that plagued the market over the last few years. With buyer demand now seeing a healthy increase, sold prices are likely to follow suit.”


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