New data on Monday revealed that buyer demand fell in the third quarter, although Glasgow remains the UK’s most sought-after location for homebuyers.
Springbok Properties has released its latest property hotspot index for the third quarter, examining buyer demand levels across 100 UK spots and how this differs from the second quarter.
The data showed UK homebuyer demand was 39.5%, down 2.8% from the previous quarter, with uncertainty surrounding Brexit continuing to “cloud the market”.
Indeed, with the UK just one day into the month of the Brexit deadline, the only certainty remaining is more uncertainty.
Meanwhile, Springbok Properties said Glasgow remained the hottest location in the UK with 59.5% of property demand in the quarter.
The data showed that although the economic slowdown was widespread across the country, demand in London rose slightly to 29.5% from 29.2% in the same quarter.
“In the current political climate, it appears that UK homebuyers are more willing to buy a home the further they move away from Westminster.Demand continues to fall, but overall The desire for ownership is alive and well in many regions in the UK,” Springbok Properties founder and CEO Shepherd Ncube commented on the data.
“The areas directly affected as a result of our exit from Europe, such as the City of London, prime central London and Northern Ireland, are certainly the areas currently bearing the brunt of market uncertainty. ” said the founder and CEO. continued.
“Demand levels will likely fall further in the fourth quarter of this year as seasonality and impact preparedness combine to cause many to consider purchasing until things settle down next year.”
