UK house prices: Bexley, Cambridge, Bristol and Bedford among the UK’s hottest property spots, while Aberdeen, Stockton-on-Tees and Bradford are “coldest”
Cambridge, Bristol and Bedford are among the regional cities vying with Greater London as the top 10 hottest property spots in the country – but Aberdeen, Stockton-on-Tees and Bradford are where demand is weakest.
That's according to online estate agent Emoov, which puts the London Borough of Bexley at the top of its index for the last quarter of 2015, with 79 per cent of available properties selling within three months. Cambridge follows close behind at an impressive 75 per cent, followed by Bristol at 74 per cent.
Bedford, meanwhile, has made the top 10 for the first time since Emoov launched its index, moving up to the UK's seventh hottest location, with 67 per cent of available houses selling in the period.
Overall, the property market remained at the same level registered during the third quarter. However over the course of 2015, demand across the UK was up 14 per cent.
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Each of the boroughs making the top 10 hotspots currently offer an average house price lower than the London average, Emoov noted.
Emoov founder Russell Quirck said: "I believe 2016 will see demand for London property continue to decline from the inside out and, as the exodus of buyers to the outer boroughs and commuter zones continues to build, the demand for property will inevitably intersect with the supply of housing available.
"When this does happen prices will rise and commuters may be forced even further afield. Bedford making the top 10 for the first time highlights the lengths London buyers are now pushed to, as they try to find affordable homes in locations with extremely fast rail links.
"Bristol would be my pick of the bunch for 2016. It has consistently ranked in the top 10 for national demand during 2015, holding its own against the London bubble, all with an average house price half that of the capital’s. With the ongoing development of the airport and the economic benefits this brings the city, I think Bristol will remain in high demand for 2016.”
But not everyone enjoyed such strength in the housing market. Just 10 per cent of available properties in Aberdeen were sold during the quarter, while 13 per cent of Stockton-on-Tees homes sold.
Bradford and Sunderland followed close behind with 14 per cent apiece.
And London's most expensive boroughs were not immune to the slowdown in the prime property market – just 16 per cent of available properties in Westminster and Kensington & Chelsea sold in the three months to the end of the year.
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