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.
3. Barking and Dagenham
7. Waltham Forest
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.
1. Hammersmith and Fulham
3. Kensington and Chelsea
4. City of Westminster
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.