Northern cities dominate the latest ranking of property hotspots, with Bradford taking the top spot for the second quarter in a row. The news is sure to be welcomed by sellers in those areas, but buyers across the country may be wondering if they need to cast their net wider to find a bargain.

The latest Hotspots Index from property website OnTheMarket reveals that Bradford is officially the hottest property market in the UK. That means it’s the place where buyers are most keen and properties are being snapped up quickly.

Hot on Bradford’s heels are Blackpool and Rochdale, both northern towns with plenty to offer. Plymouth, known for its stunning coastal location, is the only southern location to make it into the top five.

North-South Divide Continues

The index highlights a clear north-south divide in the property market. Many northern cities and towns are experiencing a surge in activity, while southern locations are seeing a cooler market.

This trend is likely driven by a number of factors, including:

• Affordability: Property prices in the north are generally lower than in the south, making it an attractive option for first-time buyers and those looking for more bang for their buck.
• Remote working: The rise of remote working means buyers can consider living further away from expensive city centres, opening up more affordable options in the north.
• Interest rates: With the Bank of England raising interest rates 14 times since December 2021, affordability is more important than ever. Buyers are naturally drawn to areas where they can get more for their money.

Big Movers and Shakers

While Bradford, Blackpool, and Rochdale have secured the top spots, other locations have also seen significant movement:

• Wakefield: Jumped from 30th to 9th place
• Birmingham: Rose from 23rd to 43rd place
• Wigan: Cooled considerably, dropping from 2nd to 15th place
• Liverpool: Fell from 11th to 30th place

London Boroughs Remain Steady

In contrast to the national picture, the London market has been relatively stable. Newham has entered the top five for the first time, while Hounslow has dropped out.

What Does This Mean for Buyers and Sellers?

• Sellers in northern hotspots: You’re in a strong position! Demand is high, so you’re likely to find a buyer quickly and potentially achieve a good price.
• Buyers in northern hotspots: Be prepared for competition! You may need to move quickly and potentially offer above the asking price to secure your dream home.
• Buyers priced out of the south: Consider looking further afield! The north offers great value for money and a fantastic quality of life.