Rocketing London house prices push up demand in commuter hubs including Bexley, Watford, Cambridge and Sutton
The London borough of Bexley was the most in-demand location for house buyers in the UK in the three months to September, research published today by eMoov reveals, yet demand in the rest of the capital stagnated as soaring house prices pushed potential buyers into the commuter belt – a kind of ripple effect.
Watford, Cambridge, Sutton, Reading, Medway, Havering and Brentwood – all commuter spots – featured in the top 10 most in-demand areas.
Demand in Bexley was 77 per cent, where demand is determined by percentage of properties sold, reflecting the demand and inventory in area.
Emoov said demand in London as a whole remained at 37 per cent from the three months to June.
“In early 2014, we predicted the ripple effect London as an individual market would have on the UK property market. It would seem those waves have started to reach far away shores. Although there are pockets of the capital that have enjoyed sustained demand, it’s the commuter belt that is currently the bubbling cauldron for property demand in the UK,” said eMoov chief exec Russell Quirk.
Some areas of the capital featured in the top 10 least in-demand places for buyers. Demand in Westminster was the second lowest in the country at 15 per cent and Kensington and Chelsea was the fourth lowest at 17 per cent.