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Solihull named top hotspot for property during last quarter of 2016

According to online agent emoov’s new Hotspot Index, Solihull has seen the largest increase in property demand across the country during the last quarter of 2016.

Ranking number one in the top 10 Hotspots, with current demand at 77%, the borough beats areas such as Portsmouth 67%, Gloucester 58% and Edinburgh 57%, with London not even featuring due to the market cooling off towards the latter part of the year.

Top 10 Hotspots

Rank 

Location 

Current Demand 0% 

Solihull 

77% 

Portsmouth 

67% 

Bexley 

65% 

Bristol 

65% 

Northampton 

60% 

Medway 

59% 

Gloucester 

58% 

Ipswich 

58% 

Bedford 

57% 

10 

Edinburgh 

57% 

With second home stamp duty and the results of Brexit affecting much of the London market, potential buyers have started to look further afield for more affordable properties in areas across the midlands.

Alongside top Hotspot Solihull, Sandwell, Stoke on Trent and Bradford have both seen a huge increase in demand for property throughout 2016. Areas of London and the North have reported disappointing results for the year, with demand decreasing by as much as 63%. 

Top 10 Biggest Increases

Rank 

Location 

Annual Demand Change 0% 

Stockport 

+126% 

Stoke-on-Trent 

+112% 

Sutton 

+110% 

Sheffield 

+99% 

Sandwell 

+83% 

Solihull 

+79% 

Swindon 

+74% 

Bradford 

+67% 

Somerset 

+65% 

10 

Southampton 

+63% 

eMoov Founder and CEO, Russell Quirk, commented: “A tough year for the UK market but it has come through it relatively unscathed.”

“Although changes to second home stamp duty thresholds and the Leave vote may have tainted demand slightly due to an air of uncertainty, there seem to be a number of areas that have benefited with the market almost turned on its head in terms of desirability to buyers.”

“2016 seems to have been a bit of a leveller where the property market is concerned, with many of the so-called “weaker” markets really seeing a spike in buyer demand, which will, in turn, result in a healthy increase in prices going into the New Year.”

 

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