Glasgow is the UK’s top property hotspot

Glasgow is the hottest homebuyer spot in the UK, according to a new survey.

The latest and third buyer demand index of the year from Springbok Properties shows that UK homebuyer demand is currently at 39.5% having dropped -2.8% since the second quarter, as Brexit uncertainty continues to cloud the market.

Using data from the major property portals, Springbok looked at where has seen the largest levels of buyer demand across the UK’s 100 most populated towns and cities, based on the total ratio of the stock listed for sale and that which has already gone under offer or sold subject to contract.

Glasgow remains the hottest spot in the UK for property demand in the third quarter at 59.5%, and it’s a Scottish one-two as Falkirk ranks second at 59.2%. Taking seventh place is Edinburgh at 53.2%.

However, Aberdeen (8.7%)is amongst the lowest areas for buyer demand across the UK in the third quarter, while Derry has also seen the largest drop quarter to quarter, down -10.7%, followed by Belfast (-4.5%) and West Bromwich (-4.5%). London falls just within the top coldest spots at number 10, with current buyer demand at 29.5%.

Sale is currently the hottest spot in England with buyer demand at 57.9%, followed by Bristol (57.4%), Worthing (55.3%) and Sheffield (54.6%). While it has slipped from the second spot last quarter with one of the largest quarterly declines in demand, Edinburgh still ranks seventh with current demand at 53.2%, followed by Dartford (51.7%), Stockport (51.2%) and Dudley (50.8%).

Founder and CEO of Springbok Properties, Shepherd Ncube, said: ‘In the current political climate, it would seem that the further you move away from Westminster the more appetite there is amongst UK homebuyers and while demand continues to decline, on the whole, the aspiration for homeownership is alive and well in many areas of the UK.

‘Those areas that will feel a direct consequence as a result of our European departure, such as the City of London, prime central London, and Northern Ireland, are certainly the areas feeling the brunt of market uncertainty at present.

‘The likelihood is that come the fourth quarter of this year, we will see a further decline in demand levels as a mix of seasonality and a brace for impact cause many to wait until the dust has settled next year before looking to buy.’