Read on to find out about how property search has evolved since Brexit, what the key drivers of growth are, and the impact on house prices in the first quarter of 2018.
The evolution of property search since Brexit
Everyone expected that Brexit would seriously hit the number of British buyers looking to purchase a property on the continent. But while there was a small decrease in the few months following the referendum, it has since recovered.
In fact the number of unique visitors from the UK to the Kyero website is higher now than it was before the referendum. And British buyers currently make up 27.4% of total visits to the site, against 62.3% from the rest of Europe and 10.3% from the rest of the world.
The key drivers of post-Brexit growth
That said, British buyers aren’t the only ones to watch. If we take Brits out of the equation, we can start to see which other countries are driving growth in this post-Brexit period.
In terms of number of unique visitors in the last three months, Kyero’s Top 10 list looks like this:
- United States
But it’s worth noting the year on year figures too. Because while Denmark is at number 10 in terms of volume, we’ve seen an increase of 49.8% in Danish visitors to the Kyero site. Likewise visitors from the US have increased by 41.1% and those from Sweden by 34.5%.
On the other hand, German visitors are up 15.1% and those from Switzerland have increased by just 4.3%.
Taking into account speed of growth as well as total numbers will help you make better decisions about where you focus your efforts.
Kyero house price report
Brexit also doesn’t seem to have had too much of a long term negative impact on house prices in Spain. While the latest year on year figures show a decrease of 0.1%, the quarterly trend is 1.1% up, which is promising.
In terms of provinces, Mallorca has done especially well, with house prices increasing by 4.8% in the last three months and an impressive 21.3% over the last year. Malaga and Fuerteventura are also having a decent 2018, showing 2.3% and 2.2% growth respectively.
Taking more of a micro look at locations, Cumbra Del Sol in Alicante is the top performer, showing growth of 10.4%, followed by Mijas and Guadalmina in Malaga, with 9.9% and 9.5%, respectively.
At the other end of the scale Adeje has seen prices fall by 5.2% in the last three months, with Barcelona (-3%) and Frigiliana (-2.9%) close behind on the list of significant fallers.