Property demand falls marginally in 2017 according to eMoov

January 2, 2018

The latest Q4 2017 and last eMoov National Hotspots Demand Index for 2017, shows that property demand in the UK is currently at 34%, down 6% after a tough year for UK property. The eMoov  hotspots index is the longest running index of its kind, based on property demand levels.

The Index reveals while the market has remained resolute with prices up by 3.8% in 2017 so far, Britain’s exit from the EU and a chaotic snap election has resulted in many UK buyers choosing to sit on the fence with regard to their property sale.

The London market has experienced a tough year, seeing  demand fall by 25% since the start of the year, now at 24% overall, according to eMoov.

Russell Quirk, Founder & CEO, eMoov.co.uk comments:

“A marginal fall in demand over the last year reflects the tough market conditions that have been prevalent since the Brexit vote and it’s encouraging at least, that buyer demand has remained as high as it currently is.

“The diversity of the market means, of course, some areas have performed a lot better than others and the likes of Bristol, Solihull, Rugby and Edinburgh seem undeterred by previous market uncertainty, whilst parts of London for example that were cornerstones of price growth, have seen buyer demand drop right off.

“We’re confident that the market will now start to show signs of normality as we head into 2018 and leave an erratic year behind us. As this previous market sentiment grows, we will no doubt see buyer demand return to previous levels and prices follow suit.”

Read the eMoov National Hotspots Demand Index Q4 2017 published 28th December 2017 in full click here.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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