Demand for housing in North West swells as central London boroughs decline

on Apr 2, 2015
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The North West of England has seen the strongest increase in demand for housing in the UK over the last three months, according to new research conducted by eMoov.co.uk.

Sefton in Merseyside has seen a dramatic increase in demand since December, up 80 percent. Huddersfield, in West Yorkshire follows with a 56 percent rise and Greater Manchester’s borough of Trafford has seen an increase of 24 percent.
eMoovs research measures changes 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.
In stark contrast to the North West, the North East of England has seen dramatic falls in demand with North Tyneside only having a current demand of 13 percent and County Durham falling by 37 percent on its December figures.
Meanwhile, London and surrounding areas have continued to see strong demand for property since December. The borough of Sutton has topped the league table, with demand for property standing at 67 percent, pushing former front runner Bexley into sixth position, with a demand of 62 percent.
However, as properties located in the centre of London become increasingly unaffordable, many investors have taken to searching for houses in the suburbs and commuter-friendly towns. This has driven a surge in demand in cities like Cambridge, Bristol and Reading.
Several districts in the centre of the capital city have suffered considerably due to perceived artificial price inflation. Nine Elms in the London borough of Wandsworth, for example has a property demand of only 12 percent – perhaps surprising considering the area is to benefit from the extension of the Northern Line due to be completed in 2020.
Russell Quirk, CEO and Founder of eMoov.co.uk commented “It’s almost a tale of two halves in the North alone, let alone the North and South.” He also believes that it will be a long time before prices in central London become affordable enough to reverse the decline in demand.

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