House prices: Do you reside in one of the UK’s most in-demand areas right now?
HIGH HOUSE DEMAND has resulted in property selling hotspots in specific parts of the UK. What are the top seven most popular selling locations in the UK right now?
Thousands of people are still looking for more spacious houses after 18 months of primarily being pent up at home owing to coronavirus restrictions, as the working from home trend continues and our lifestyles adapt to living and working in the aftermath of Covid-19. The Stamp Duty Holiday for most properties ended on June 30, sparking a frenzy of activity among individuals looking to take advantage of the low prices.
This indicates that the seller had a lot of luck finding a buyer.
“Demand for houses continues to outstrip supply by a large amount, with our estate agent members reporting some of the fewest properties available per branch in living memory,” said Iain McKenzie, chief executive of the Guild of Property Professionals.
“With such a paucity of home stock and the stamp duty holiday remaining at its current low level, there is no sign of prices easing down any time soon.”
Rightmove has updated its list of the most in-demand places to purchase and live in the UK. So, where are the best places to buy and live in the UK?
There are plenty of buyers north of the border in Scotland, where 89 percent of sellers found a buyer between June 2020 and June 2021.
Falkirk and East Dunbartonshire are the most popular local authority regions, with the former having a 94 percent success rate.
“While the long-term average shows that about half of sellers find a buyer, the increase in 2021 reflects the record numbers of buyers we’re witnessing in the present market due to changing priorities of house movers,” said Tim Bannister of Rightmove.
“Estate agents are operating on limited supply as sellers find buyers faster, and they need more homes to come to market to meet all types of buyers,” he added.
There are a number of vendor hotspots in England and Wales as well.
Sheffield came in second with 83 percent of homes on the market selling between June 2020 and June 2021, according to the report.
Chorley, in the northwest, had an 81 percent rate as well.
Wales climbed to fourth position in the table, with Torfaen selling 80% of its properties.
Chesterfield and Nuneaton, both in the midlands, had a great run with a 79 percent sale rate. “Brinkwire News in Condensed Form.”