London’s Stalling As Zoopla Predict Nottingham, Sheffield and Leeds Could See Good Growth in 2020

With the property market suffering a slump that seems to have been outlined by political uncertainty due to Brexit within the latter stages of 2019, property site Zoopla have revealed that they believe that are areas across the UK that are set to see a new level of growth throughout 2020.

While the festive season is widely known to be a slower period for potential home buyers to be looking into the market, the start of 2020 has already shown significantly increased levels of interest, with Zoopla claiming to have seen a stronger average of 26% compared to 2019 and 2018.

Now that the UK have voted and have Brexit set to be completed and with low mortgage rates available, it seems that the UK property market is showing signs that people are ready to buy their next home.

Housing demand across some cities has resulted in a greater rise in potential buyers, impacting property prices as people look to create a home within areas such as Nottingham, Sheffield and Leeds, however, London and the south are showing slightly more subdued figures as per the findings.

UK Property Market Interest Jan 2020

The research showed that Nottingham, Edinburgh and Glasgow were the top three places of interest for home buyers within the increase in interest following the start of the year, while areas in the south such as London, Cambridge and Oxford were 16th, 12th and 19th respectfully on the list.

Speaking about the research, Zoopla revealed that the lower average asking price of properties in places such as Sheffield, Leeds and Leicester were meaning that interest was increasingly higher within those areas “due to affordability”.