The impact of Brexit uncertainty and the slowing economy on property sales has led to some strange data emerging on the country’s hottest purchase spots, and a recent report from Springbok Properties last week added to the trend.
Using data from Rightmove, Zoopla, Prime Location and OntheMarket, the estate agency reported that the city with the highest levels of buyer demand in the first quarter was Scotland’s Falkirk, witnessing a buyer demand score of 64%.
The report calculated the most and least popular of 200 British cities based on the total ratio of stock listed for sale, and homes which had gone under offer or been sold subject to contract. If 100 properties in a city are listed, for example, but 60 have already sold subject to contract or are under offer, this town would score a demand percentage of 60%.
Popularity contest Scotland was represented well on the list with Glasgow and Edinburgh locking out three of the top four places on the list. In fact, on a UK basis, buyer demand in cities in the Midlands and further north was much stronger than in the traditionally-popular areas in London and the South East. Only Dartford in Kent registered on the most-popular list.
Commenting on the data, Springbok Properties founder Shepherd Ncube noted: “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.”
| The UK’s most popular cities | |
| City | Current demand |
| Falkirk | 64% |
| Glasgow | 58% |
| Sale, Greater Manchester | 57% |
| Edinburgh | 56% |
| Dartford, Kent | 53% |
| Dudley, West Midlands | 53% |
| Bristol | 52% |
| Walsall, West Midlands | 51% |
| Sheffield, South Yorkshire | 51% |
| Coventry, West Midlands | 49% |
What the data also showed was that market activity in London remains pretty subdued, the capital city sitting in sixth position on the list of least popular metropolitan areas.
| The UK’s least popular cities | |
| City | Current demand |
| Aberdeen | 10% |
| Stockton-on-Tees, County Durham | 26% |
| Sunderland, Tyne and Wear | 26% |
| Middlesbrough, North Yorkshire | 26% |
| Darlington, County Durham | 26% |
| London | 27% |
| Preston, Lancashire | 27% |
| Blackpool, Lancashire | 27% |
| High Wycombe, Buckinghamshire | 29% |
| Newcastle-upon-Tyne, Tyne and Wear | 30% |
| Homebuyer demand in London | |
| Borough | Current demand |
| Bexley | 51% |
| Barking and Dagenham | 46% |
| Waltham Forest | 45% |
| Lewisham | 43% |
| Havering | 41% |
| Bromley | 41% |
| Sutton | 40% |
| Hillingdon | 38% |
| Haringey | 38% |
| Greenwich | 38% |
| Kingston upon Thames | 35% |
| Enfield | 35% |
| Merton | 34% |
| Croydon | 34% |
| Redbridge | 33% |
| Harrow | 32% |
| Hounslow | 30% |
| Southwark | 29% |
| Islington | 29% |
| Lambeth | 29% |
| Hackney | 28% |
| Wandsworth | 27% |
| Richmond upon Thames | 26% |
| Newham | 26% |
| Ealing | 26% |
| Barnet | 23% |
| Hammersmith and Fulham | 22% |
| Brent | 19% |
| Tower Hamlets | 19% |
| City of London | 18% |
| Camden | 17% |
| Kensington and Chelsea | 13% |
| Westminster | 12% |
Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
Motley Fool UK 2019