Property Hotspots 2024 : Top 10 Locations in Great Britain Drawing High Demand, According to Experts

Spanning from a quaint suburb in Dover, Kent, to the vibrant outskirts of Glasgow, this report uncovers the areas that are gaining traction among buyers, as indicated by leading estate agents.

Nestled in Dover, Kent, alongside a bustling town near Glasgow, and an emerging district in East London, these locales are gaining recognition as burgeoning property hotspots, as per industry specialists. Data analysis conducted by estate agency Hamptons, utilizing Countrywide statistics (both entities are subsidiaries of the Connells Group), sheds light on regions across Great Britain witnessing a significant uptick in homebuyer registrations over the previous year.

The south of England boasts 12 locations within the agency’s top 30 ranking, while the majority are situated in the Midlands, northern England, or Scotland. The list includes only five locales where average property values surpass the £400,000 mark, predominantly situated in the more economically accessible areas of London and the southeast.

In general, the pricier markets have felt the most substantial impact from the shift towards elevated interest rates. This trend is predominantly observed in regions where households typically shoulder larger mortgages in absolute monetary terms, rendering them more susceptible to the financial strains induced by increased rates.

Top 10, based on the number of people registering to buy a home

Kearsney

A suburb of Dover in Kent – registrations up 77%. Average price: £321,460 (up 4.7% year on year).

Airdrie

A town in North Lanarkshire in Scotland, about 16 miles from Glasgow – registrations up 72%. Average price: £135,510 (up 2.2%).

East Ham

One of the 12 districts of the London borough of Newham – registrations up 71%. Average price: £410,990 (up 2%).

Baillieston

A suburb of Glasgow – registrations up 70%. Average price: £261,470 (up 0.5%).

Sutton

The principal town in the London borough of Sutton – registrations up 67%. Average price: £433,540 (up 1.3%).

Burton upon Trent

A market town in Staffordshire – registrations up 62%. Average price: £225,490 (up 1.2%).

Paisley

A town in Renfrewshire in Scotland – registrations up 62%. Average price: £151,300 (up 1.2%).

Bow

An area within the London borough of Tower Hamlets – registrations up 61%. Average price: £485,470 (up 4.6%).

Bearwood

An area that has become absorbed into Smethwick in the West Midlands – registrations up 59%. Average price: £200,350 (up 5.5%).

Milton Keynes

The largest settlement in Buckinghamshire – registrations up 54%. Average price: £317,220 (up 3.3%).

Are house prices expected to rise in 2024?

The current forecast indicates an upward trend in mainstream housing prices, with a projected increase of 3% in 2024, revising the previous expectation of a 4% decline. However, the luxury country housing market is anticipated to experience a slight downturn, with a 2% decrease in high-end country house prices, reflecting a normalisation from the elevated levels during the pandemic.

Will house prices go up in 2025?

Looking ahead to 2025, the housing market faces challenges due to rising interest rates, which increase borrowing costs and potentially reduce the pool of prospective homebuyers. The Office for Budget Responsibility (OBR) projected a 9% decrease in house prices over the subsequent two years, with an anticipated recovery and price increase commencing in 2025.

What will house prices do in the next 5 years?

Extending the outlook to the next five years, the London housing market is expected to encounter a downturn, with prices projected to fall by 10% from their peak by the first half of 2024, according to Savills' latest five-year forecast. The forecast indicates an additional 4% decrease in prices for the following year, attributing the decline to sustained mortgage pressures that are likely to restrict potential buyers.