Homebuyer demand in England has fallen by 1.1% quarter-on-quarter in Q2, with a continued regional divide recorded across the country, eXp UK has revealed.

The estate agent’s data analysis is based on the number of homes listed for sale on Rightmove that have already seen an offer agreed, before comparing the current market landscape with the previous quarter.

The firm found that overall sales demand stood at 41.2%, which is an annual drop of 1.2%.

The largest quarterly demand increase was recorded in the East Riding of Yorkshire, which grew by 3.1%, followed by Lancashire (0.7%), the City of London (0.7%), Greater Manchester (0.5%) and Northumberland (0.5%).

However, the biggest quarterly drops were seen in Dorset (4%), Bristol (2.6%), Surrey (2.6%), Rutland (2.5%) and Northamptonshire (2.4%).

Head of eXp UK and Europe, Adam Day, said the latest figures suggest that buyer demand remains “relatively stable”, despite a modest quarterly decline at a national level.

He concluded: “What continues to stand out is the resilience being shown by many markets across the North and Midlands, where affordability remains comparatively stronger, and buyer activity has generally held up better.

“At the same time, many southern counties continue to face greater affordability pressures, which can have a more pronounced impact on purchasing decisions and transaction volumes. As a result, we're seeing a market where regional performance varies considerably depending on local market conditions.

“The fact that demand remains above 50% in areas such as Bristol, Tyne and Wear and South Yorkshire demonstrates that committed buyers are still active, even against a backdrop of wider economic uncertainty. Rather than a broad-based slowdown, the market continues to show signs of regional rebalancing, with local affordability and buyer confidence playing an increasingly important role in shaping demand.”

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