Demand for property in Britain is strongest in Wales and Scotland, while demand in England has dropped in the first quarter of 2018, according to a report from online brokerage Emoov.
The report, released last week, analyzes property demand by comparing the level of stock available to what has already sold, before calculating the total change between indices.
Wales enjoyed the largest increase in demand, up 6% to 33% when compared to the last quarter of 2017. Scotland was close behind with a 5% increase. Property demand in England fell by 3% in the first three months of the year, the report said. Nationwide, property demand remained steady at 36%.
The city of Swindon, in South West England, tied with Glasgow, Scotland, for the highest levels of property demand in Britain at 66% each. The two cities were followed by Newport in Wales, which ranked second in the nation for buyer demand (61%), according to the report.
London, meanwhile, in the midst of a well-publicized downturn, has seen buyer demand fall 15% from the end of 2017, and now stands at 23%.
“Market activity has remained subdued throughout the start of the year, but it seems as if the tide is finally starting to turn and we should see conditions improve as the year goes on,” said Russell Quirk, founder and CEO of Emoov, in the report.
“There are plenty of pockets across the nation that continue to see strong levels of buyer interest,” he said. “However, market uncertainty has seen many sellers refrain from selling and in turn, the lack of varied stock has seen buyer demand, in general, remain restricted.”
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