Demand in London's property hotspots rises 6% in 3 months

Demand in London's property hotspots rises 6% in 3 months

The level of demand for prime properties in the most in demand areas of London has been on the rise for the past few months, according to the latest reports.

It's been reported in the last week that the level of certainty brought about by the election would help to improve the number of people who were looking to buy in these areas, but in reality, demand has been climbing for some time. 

In fact, according to the data released by eMoov, the average growth in demand for the prime areas in London over the past three months has been six per cent, with some previously quieter areas like Chiswick rising faster than the most popular, such as Kensington.

The biggest rise by far was in Chiswick, where the level of demand has climbed by 54 per cent since the end of February. This was followed by Islington, with a rise of 30 per cent and Belgravia, where demand climbed by 22 per cent. 

In contrast, Chelsea and Kensington saw rises of just one per cent, while other areas also experienced falls in demand. However, in general, prime areas are on the rise, with 56 per cent having experienced more demand now than they had in February. 

Moving forward, Russell Quirk, chief executive of eMoov, said that the company has already experienced a rise in demand again after the election. It expects that the climbing demand over the last few months will only be improved upon now that people can ditch their wait and see approach and get back to buying again. 

"We are already aware of a significant increase in buyer activity since the election. It is most likely this is going to translate into a more buoyant picture in the months to come," he said.