A new study from PropCast has revealed that, since it was announced that the UK would be leaving the EU, buyer demand has risen for 57% of the counties, across England and Wales combined, with buyers increasing their love the most for Dyfed (Pembrokeshire, Carmarthenshire & Ceredigion) in Wales – up 64%.
The study examined the percentage change in buyer demand for each county from June 2016 to Jan 2019 to see what effect Brexit has had on buyer demand levels, and therefore the potential for house price growth, the most.
It seems that Brexit is not affecting the UK property market equally.
In addition to Dyfed, five other Welsh areas – Powys (+58%), Clwyd (+58%), Mid Glamorgan (+41%), Gwynedd (+38%) and Gwent (+37%) have all seen a noteable increase in buyer demand. As a house selling weather forecast, PropCast has noted that despite this rise in buyer demand, Dyfed, Powys, Clwyd and Gwynedd are still in a buyers’ (cold) market according to their market heat temperatures – although the balance of power is now inching closer to sellers. Meanwhile growing popularity has meant Mid Glamorgan and Gwent have moved into a sellers’ (hot) market.
In England, the county that experienced the greatest increase in affections is the Isle of Wight, with buyer demand rising 34%, closely followed by Shropshire (+31%), Herefordshire (+28%) and South Yorks (+27%). This increase has pushed the Isle of Wight and South Yorks into a sellers’ market, whilst Shropshire and Herefordshire sit just under the threshold.
Other counties who have migrated into a sellers’ market due to this increase in demand include Cornwall and West Yorks, whilst the existing sellers’ markets of Leicestershire, Worcestershire, Devon, Derbyshire, Staffordshire, West Midlands, Greater Manchester and Nottinghamshire have become even more favourable for sellers.
However, heart ache looms for some as home buyers fall out of love with over half of England’s counties. Demand has dropped the most for Buckinghamshire – down 40% – followed by Bedfordshire (-37%), Hertfordshire (-35%), Berkshire (-32%) and Greater London (-31%). Other counties include Essex, Cambridgeshire, Oxfordshire and Surrey. This fall in buyer demand potentially indicates either the home moving portion of the electorate are experiencing some sort of Brexit remorse or are largely ‘remainers’ in their makeup.
If you are looking to move to Pembrokeshire, Carmarthenshire or Ceredigion, or interested in buying a property here, give West Wales Property Finders a call on 01834 862816. We can find your perfect property for you whilst saving you time, stress and often money too. http://www.westwalespropertyfinders.co.uk