The surprising property hotspots revealed
Demand for property outside London has beaten the capital. The new property hotspots aren't in posh London enclaves where only multi-millionaires could ever afford to buy - they are in the kind of commuter towns and cities that could be within the grasp of far less wealthy residents.
Bexley takes the top spot in the eMoov study, which looks at the percentage of properties on the market that have been snapped up by buyers this autumn. Over a three month period, 77% of all properties on the market were sold in Bexley.
%VIRTUAL-ArticleSidebar-property-guide%
The rest of the top ten is dominated by the commuter belt - including major towns and cities within striking distance. The South West also saw a surge - with both Reading and Bristol in the top ten.
CEO of eMoov.co.uk, Russell Quirk, commented: "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.
The top ten
1. Bexley 77%
2. Watford 72%
3. Bristol 71%
4. Reading 68%
5. Barking and Dagenham 68%
6. Sutton 68%
7. Cambridge 67%
8. Medway 64%
9. Havering 64%
10. Brentwood 64%
Many of these areas stand out for the prevalence of relatively affordable housing within striking distance of the capital. The Medway towns, for example, have long been considered the poor relations of Kent, but are now seeing the market flourish.
Why?
It's easy to see why these areas are heating up when you look at what is happening in more overpriced areas of inner London. Some of the places that have been the hottest in the past have found overpriced property increasingly difficult to sell. Westminster, for example, is the second coolest area, with demand of just 15%, while Kensington and Chelsea is fourth at 17%.
Beyond London, the rest of the cold spots are generally in the North of England and Scotland - particularly the North East of England. This seems to support earlier reports of a growing north/south divide in house prices. The coldest of all is Aberdeen, which has been affected by the wider woes of the oil and gas industry - and has seen demand halve in a year.
Ten coldest
1. Aberdeenshire 10%
2. Westminster 15%
3. Northumberland 15%
4. Kensington and Chelsea 17%
5. Highland 17%
6. Gateshead 18%
7. North Tyneside18%
8. Stockton-on-Tees18%
9. Sunderland 18%
10. County Durham 18%
Property stories on AOL Money
Want to buy a house for £1?
Japanese company designs flat-pack homes
Man transforms 800-year-old cave house
