Latest News

Appetite for property in regional cities close to levels seen in booming outer London boroughs

by Richard on April 11, 2016 No comments

London’s outer boroughs and commuter belt continue to outperform the rest of the country where property demand is concerned, but there is increasing evidence that regionals cities are attracting as much attention from house-buyers in the UK.

According to one leading property portal, the London Borough of Bexley remained the hottest spot in the UK in the first quarter of 2016, with demand at 72 per cent (against a UK average of 39 per cent). But in second place was Bristol (68 per cent), making it the most in demand location outside of the capital and commuter belt, while Bedford (66 per cent) took a very respectable third place.

Also in the same portal’s top 10 ‘in-demand’ locations were Cambridge (62 per cent), Watford (62 per cent), Sutton (61 per cent), Kent’s Medway (63 per cent), Milton Keynes (61 per cent), and Aylesbury (63 per cent). However, with demand currently at 65 per cent, a surprise entry into the top 10 was Ipswich. With a direct commute into Liverpool Street of just over an hour, Ipswich’s new found demand shows the ever increasing boundaries of the London commuter zone, as buyers search further afield for affordable property.

It’s also interesting to note which locations climbed the fastest during the first three months of the year. Aberdeen and Durham have seen the quickest recovery in terms of demand, scoring 15 per cent and 27 per cent respectively, albeit from low bases. Stoke-on-Trent (37 per cent) is the third highest climber, flying the Midlands flag with Walsall (28 per cent) as the eighth highest climber.

It would seem the Northern Powerhouse is starting to make an impact, particularly in Yorkshire, with Wakefield (33 per cent) the fourth highest climber over the last quarter and fifth over the course of the last year (53 per cent). Wakefield is joined by Leeds (31 per cent) in fifth, Sunderland (29 per cent) sixth and Bradford (29 per cent) seventh in terms of growth over the last quarter, with Bradford having also made the list of most affordable cities in the UK. Rhondda Cynon Taf (26 per cent) is the only Welsh entry in the top 10 highest climbers in the last quarter, with South Lanarkshire (23 per cent) joining Aberdeen as the second Scottish entry, completing the highest climbers over the last quarter.

RichardAppetite for property in regional cities close to levels seen in booming outer London boroughs