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Solihull Is the UK’s Hottest Property Spot

Research carried out by online estate agent eMoov.co.uk suggests that Solihull is the hottest location in the UK in terms of property demand for the last quarter of 2016.

The town, which is situated south of Birmingham, has seen the highest percentage of properties sold compared to any other locale in the nation.

eMoov.co.uk assigned a percentage based on the amount of homes available compared to those actually sold, and Solihull emerged the winner. It pushed Bexley out of the top spot with a score of 77%, 10% higher than Portsmouth, which came in second.

Solihull’s popularity comes as no surprise, as it had previously been named one of the best places to live in the UK (an honour it lost to Edinburgh in 2015). Properties in the area regularly go for over a million pounds- last September a home on St Bernards Road was sold for over £1,125,000.

Other towns in the top 10 include Bristol, Gloucester, Ipswich and Northampton.

The research also shows where demand for available homes has increased and decreased in the latter half of last year. Solihull and Sandwell were both in the top 10 for locations that experienced the biggest increase.

Sandwell experienced the fifth largest increase, with a percentage change score of 83%. Given the fact that an average house price is £125,609 (around £50,000 less than comparable properties in Birmingham), Sandwell could represent an ideal investment opportunity for 2017.

Sunderland experienced the biggest decrease in demand, with a 63% drop.

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Property demand has experienced an overall decrease of 7% at the national level, and now stands at 38%.

Russell Quirk, the CEO and founder of eMoov, said that 2016 was a difficult year for the UK property market but it managed to survive unscathed.

Mr Quirk said that there has been an air of uncertainty due to Brexit and the stamp duty thresholds for second properties, but a number of locations appear to have benefited, with the UK property market practically turned on its head in terms of attractiveness to homebuyers.

He added that 2016 appeared to have been a leveller where the property market is concerned, with many markets previously believed to be weak seeing a jump in buyer demand.

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