Bradford has overtaken Newcastle-upon-Tyne as the most active property market in the UK, according to the latest OnTheMarket Hotspots Index.

The ranking, which measures housing market activity based on online engagement and available stock, saw Bradford reclaim the top spot after briefly losing it to Newcastle in the third quarter of 2024. The city had also led the index in the first and second quarters of the year.

Newcastle fell to ninth place in the final quarter of 2024, while Leicester saw a notable rise, climbing six places to take third position. Derby entered the top 10 for the first time, moving up from 12th in Q3, whereas Barnsley dropped out of the top 10 entirely, slipping to 13th place.

REGIONAL HOUSING MARKET TRENDS

The latest rankings reinforce the ongoing north/south divide in the UK property market, with affordability remaining a key driver of activity. Many of the highest-ranked locations in Q4 are among the most cost-effective places to buy a home, particularly in northern England.

Jason Tebb, president of OnTheMarket, noted that despite reductions in the Bank of England base rate in the latter half of 2024, mortgage rates remain significantly higher than in previous years. He pointed to the ongoing cost of living pressures and rising house prices as factors limiting affordability for many buyers.

“As well as higher borrowing costs, the post-pandemic shift towards working from home at least part of the week means buyers have more flexibility and can reasonably consider locations further away from city centres, which tend to be cheaper,” Tebb said.

Bradford’s sustained popularity may be linked to its affordability in comparison to nearby Leeds, while Burnley, which climbed to second place, continues to attract strong buyer interest.

UK HOTSPOTS INDEX Q4 2024

Source: OnTheMarket

BIG MOVERS AND MARKET SHIFTS

The rankings also highlighted significant shifts in demand across various locations. Crawley saw one of the biggest rises, jumping from 49th to 29th place, while Birmingham dropped from 23rd to 43rd. Middlesbrough cooled notably, falling from 11th to 21st, and Slough declined from 27th to 37th. Bournemouth, one of the few southern locations previously considered a hotspot, fell from 45th to 50th.

At the bottom of the list, Southend-on-Sea recorded the lowest level of market activity.

LONDON HOTSPOTS REMAIN STABLE

In London, market fluctuations were less pronounced compared to national trends. The City of London retained the top spot, with Barking and Dagenham remaining in second place for a consecutive quarter. Hounslow entered the top ten, while Richmond dropped out, falling from ninth to 12th place.

Source: OnTheMarket