As per the latest reports, real estate demand in the United Kingdom (UK) is being majorly driven by Scotland and Wales. Demand has gone up for homes in the UK to the tune of around 8% from the beginning of 2018 according to several reports. However, the increase across the nation is majorly being driven by Wales which has seen an increase in demand by 10% and Scotland where demand has gone up by 8%. Demand has gone up by 3% in England from the beginning of this year since it has the highest property prices in all of UK.
The demand for a region is mapped on the basis of the number of real estate properties that are sold in a specific area as a percentage of the entire listed housing stock. Demand has gone up by 2% in London which indicates a recovery of the market in the capital and increasing buyer demand. Prime central London is the key driver of demand in this case as per experts. London has high property values but in spite of a slower market overall, there is considerable demand for property here as per studies.
The borough of Hammersmith and Fulham have also witnessed a 71% increase in demand while demand for homes has gone up by a handsome 35% in Lambeth. However, demand has come down by approximately 7% in the commuter stretch of London. The area has been one of the hottest markets in the UK for a long period of time due to the real estate demand here from buyers who are otherwise out priced in other parts of London. However, experts feel that this correction does not have any impact on the realty market in London and the UK in general which continue to draw investors and end-users alike.
