Yahoo Finance Revealed: UK's strongest sellers market for 2021
Easton in Bristol was revealed to be the strongest sellers’ market for properties in the UK – an area where a high proportion of the homes that have come to market this year have found a buyer and been as marked sold subject to contract (SSTC).
This was according to new data from property website Rightmove.
“This year, sellers in Great Britain have had a better chance of finding a buyer for their home than at any time over the past decade,” said Rightmove’s director of property data, Tim Bannister.
Four of the top ten sellers’ markets (Easton, Mangotsfield, Brislington, Trowbridge) are in, or near to Bristol.
Meanwhile, six of the top 20 locations are in Essex, and 18 are in the south of England.
Buyer demand has been exceptional this year, the report by Rightmove noted, as Brits spent more time at home during the pandemic and looked for roomier homes.
This demand has led to seven out of every ten properties on Rightmove finding a buyer and being marked SSTC. This is compared to just two out of every ten in 2012.
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Houses in the £250,000 ($330,597) or below bracket were the best performing for sellers this year, with more than three quarters (76%) finding a buyer and being marked SSTC.
This was particularly true in the South West, where 82% of such properties were sold, followed by the South East (82%) and East of England (79%).
In comparison, just 15% of flats priced at £1m or more that were marked SSTC. These are marketed at a smaller group of buyers, and are often the best category to negotiate a good deal.
In Hoxton, nine out of 10 homes that came to market this year on Rightmove are still available, making it this year’s top buyer market, followed by Aberdeen and Chelsea.
Eight of the top 10 buyer markets are in London, highlighting the stark contrast in available properties in central London, and the areas surrounding it.
Available stock per estate agency branch was at a new record low, but there are signs that there will be more buyer choice heading into 2022, as the number of people requesting a valuation of their home by an estate agent is up by 19% compared to this time last year.
“Managing short supply with high buyer demand has been a challenge for agents across Great Britain this year, and while the level of stock per agent is at record lows, the jump in number of people getting in touch with an agent to have their home valued suggests some fresh choice for buyers next year,” said Bannister.
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