Surprising Data on Britain’s Most In-Demand Property Areas
Online estate agent Emoov has released a Property Hotspots Index showing surprising new trends in property sale. This data measures the popularity of locations by the total number of properties sold during the first quarter of the year when compared to the number of those on sale. The top three in-demand locations? Sutton at 67%, Cambridge at 66%, and Watford at 64%. The unexpected growth in popularity of otherwise-unremarkable commuter towns like Sutton has been explained by Emoov founder Russel Quirk as a reflection of the recently volatile central London property market:
“I think it will be a long, long time before we see prices in central London become affordable enough to reverse this trend, if at all... It just goes to show, people are trying to anticipate what the market will do and get a jump on it, rather than pricing their property to reflect the market at the time.”
The three least in-demand locations according to this index? Nine Elms (12%), North Tyneside (13%) and a tie between Sunderland and County Durham (both at 14%). The inclusion of Nine Elms in this list, and especially its ranking at number one, is unexpected as it is currently undergoing a massive regeneration project where thousands of new homes are being built in this enviably central London location.
Read more at: http://www.cityam.com/213044/uk-house-prices-sutton-cambridge-and-watford-top-list-uks-property-hotspots