Top 10: London boroughs where property demand is highest

While property demand has dipped in the capital, those selling in Bexley are faring better than most, according to online estate agent Emoov. It has been deemed the hottest spot for property demand in London at present in Emoov’s national hotspots index for the first quarter.

The index considers homebuyer demand levels based on the balance of stock listed for sale on major property portals compared with the stock that has already been sold.

London boroughs where property demand is highest

1. Bexley

2. Bromley

3. Barking and Dagenham

4. Lewisham

5. Croydon

6. Hillingdon

7. Waltham Forest

8. Newham

9. Redbridge

10. Hackney

The index found that property demand across the nation has remained static since the fourth quarter of 2017, but it slumped 15% in London over the first three months of the year.The areas that have the highest number of properties sold from the total listed for sale are deemed the most in demand amongst UK buyers.

While Bexley, Bromley and Barking and Dagenham were deemed hotspots for property demand, there were other areas which reported the largest rise in demand since the fourth quarter.

Hammersmith and Fulham had the biggest increase in buyer demand – up 43% since the fourth quarter of last year. That was followed by Newham and Kensington and Chelsea, and then the City of Westminster, up 30% and 17% respectively.

London boroughs with the steepest rise in property demand

1. Hammersmith and Fulham

2. Newham

3. Kensington and Chelsea

4. City of Westminster

5. Lambeth

6. Camden

7. Lewisham

8. Croydon

9. Bromley

10. Bexley

As for the London commuter belt, demand levels remained fairly robust but still dipped 5% in the first quarter. Ashford in Kent was home to the highest level of buyer demand, followed by Folkestone, Rochford, Stevenage, and Colchester.Lambeth was dubbed the least in demand area, followed by the City of Westminster, though interest from homebuyers has been picking up there, as well as in Southwark.

Emoov founder Russell Quirk said:

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.

By | 2018-04-23T16:52:35+00:00 April 19th, 2018|Concepts, Industry News, Residential, Uncategorized|0 Comments