Top 10 emerging property hotspots, according to experts
Kearsney in Kent and Baillieston in Glasgow are among the next top property-buying hotspots, analysis suggests.
In London, there has also been a 71pc surge in interest for homes in East Ham, where the average property sells for £410,990.
Figures compiled by estate agency Hamptons, based on Countrywide data, reveal the top 30 areas in the UK where the number of people registering to buy a home has risen the most over the past year.
According to the data, 12 areas in the South of England saw a rise in popularity, but the majority of areas that saw increased interest were in Scotland, the Midlands, and the North of England.
Aneisha Beveridge, the head of research at Hamptons, said: “Affordability is at the heart of this. There are only five areas on the list where the average price exceeded £400,000 and, typically, these are the more affordable pockets of London and the south-east.
“Generally it’s the more expensive markets that have been hit hardest by the move to higher interest rates. This is because households in these areas tend to have bigger mortgages in pound terms and are therefore more exposed to higher rates.”
The data looked at the total number of people registering to buy a home and how much that metric has risen over the first 11 months of this year compared to the same period in 2022.
Overall, 12pc fewer applicants were registering to buy a home across Great Britain from January to November this year, compared to the same period in 2022.
Average house prices fell by around 1.8pc this year as higher borrowing costs pushed down the number of sales, according to data from building society Nationwide. Prices fell further in southern England at 3.4pc, compared to 1.8pc in the North.
Transactions across the UK were also down 10pc compared to before the pandemic, and prices are now 4.5pc below where they were at the all-time high in the late summer of 2022. The average property price in the UK is now £257,443.
1. Kearsney: In Dover, Kent
Applications are up 77pc - average house price: £321,460 (up 4.7pc this year).
The area is close to the famous white Cliffs of Dover, Canterbury Cathedral and direct ferry routes to France.
2. Airdrie: In North Lanarkshire, Scotland
Applications are up 72pc - average house price: £135,510 (up 2.2pc).
The location is a short drive to the hustle and bustle of Glasgow, as well as the picturesque Callendar House and People’s Palace.
3. East Ham: In the London borough of Newham
Applications are up 71pc - average house price: £410,990 (up 2pc).
The suburb is a short commute into Central London and close to the tourist-favourite Westfield shopping centre in Stratford.
4. Baillieston: In Glasgow
Applications are up 70pc - average house price: £261,470 (up 0.5pc).
Locals in Baillieston can visit the Glasgow Botanic Gardens and the capital’s bustling nightlife.
5. Sutton: In London
Applications are up 67pc - average house price: £433,540 (up 1.3pc).
A short drive from the scenic Surrey Hills - a place of outstanding natural beauty. The area is also well connected to the south of England and central London via rail links.
6. Burton upon Trent: In Staffordshire
Applications are up 62pc - average house price: £225,490 (up 1.2pc).
The town is nestled between the built up areas of Birmingham, Derby and Nottingham, with rail links to all three cities and beyond.
7. Paisley: In Renfrewshire, Scotland
Applications are up 62pc - and the average house price: £151,300 (up 1.2pc).
The town is a short drive to Glasgow Airport, which has regular flights to other parts of the UK as well as Europe and other international destinations.
8. Bow: In the London borough of Tower Hamlets
Applications are up 61pc - average house price: £485,470 (up 4.6pc).
Close to the bustling nightlife of Dalston and Hackney Central, as well as Victoria Park.
9. Bearwood: In the West Midlands
Applications are up 59pc - average house price: £200,350 (up 5.5pc).
A short drive to the UK’s second largest city Birmingham, and close to rain links to London and the North and South of England.
10. Milton Keynes: In Buckinghamshire
Applications are up 54pc - average house price: £317,220 (up 3.3pc).
A built up area full of shops, restaurants and bars. The City is also well connected to London and a short distance to Bletchley Park.
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