Saturday, February 24, 2024

UK property hotspots revealed in survey

UK property hotspots

Top locations for property investment across the UK have been revealed in research carried out for estate agents Springbok Properties

Research carried out for estate agents Springbok Properties has taken a look at where the current, most in-demand locations across the UK are located.

Three midlands destinations feature in the top 10, including Coventry.

The UK property hotspot in the first quarter of the year was Falkirk, in Scotland, with a demand percentage of 64 percent.

Scotland ranked rather highly in total, with Glasgow in second, and Edinburgh in fourth, with 58 percent and 56 percent demand percentage respectively.

The West Midlands sees three destinations in the top 10, including Coventry in at 10th place.

The current demand percentage for Coventry is 49 percent.

But Coventry isn’t as quite in demand as Dudley and Walsall, which stand at 53 and 51 percent respectively.

Using data from the major property portals, Springbok looked at areas with the largest levels of buyer demand across the UK’s top 200 most populated cities, based on the total ratio of stock listed for sale and that which has already gone under offer or sold subject to contract.

So if 100 properties are listed in total, but 60 have already sold subject to contract or are under offer, this area would score a demand percentage of 60 percent.

A higher demand score indicates higher levels of demand as more properties have left the market as SSTC or under offer.

Founder and CEO of Springbok Properties, Shepherd Ncube said that with Brexit uncertainty taking hold on a national level, it’s interesting to see some of the less conventional areas coming to the forefront where buyer demand is concerned and these areas are certainly benefiting from a more business as usual attitude where home selling is concerned.

Shepherd said they have also seen the likes of Bristol weather the storm to remain popular amongst buyers although areas to enjoy similar levels of popularity haven’t been as lucky, with London’s fall from grace evidence of this. He added that looking at the capital itself, the more affordable, peripheral boroughs remain in good favour with London home buyers but prime central London, in particular, continues to pay the price of over inflated prices driven by previous market conditions.

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