Northampton named in top 5 UK property demand hotspots
Northampton has been named in the top five UK National Hotspots Index for the last quarter.
The latest Property Hotspots Index, produced by eMoov.co.uk, records the change in supply and demand for the most populated locations across the UK, by monitoring the total number of properties sold in comparison to those on sale.
The latest research found that national property demand has increased by +3% overall since Q1, now at 40%. But it’s not good news for homeowners in the capital, with demand in London as a whole down -2% to 39%.
Despite demand cooling across the capital, the London Borough of Bexley remains the hottest spot in the UK for property demand. At 71%, demand for property in Bexley is the highest across the UK, although it has cooled by -7% since the start of the year in line with the decrease felt across the capital as a whole.
Bristol is still the hottest spot outside of the London bubble, with demand increased, albeit marginally, to 69%. Nearby Bedford (67%) also retains its place as the third hottest spot in the UK as commuter zones around the peripherals of the London bubble continue to grow in popularity, due to the inflated price of homeownership in the capital.
And Northampton has seen the biggest percentage rise in demand (up 10%) in the entire country, climbing to joint fourth hottest spot in the UK with Aylesbury on 64%.
Northampton replaced nearby Milton Keynes (15th) in the top.
Founder and CEO of eMoov.co.uk, Russell Quirk, said Brexit scaremongering has not been justified.
“National demand is still lower than the levels seen at the back end of last year and the big decider on which way it goes now will be Britain’s choice to leave the EU,” he said.
“There has been a lot of talk about the consequence of this vote on the UK property market with many forecasting a detrimental impact on house prices.
“We don’t believe this to be the case and I’m certain that come Q3, our index will show a further increase in property demand across the nation.”