Record Numbers Of Housebuyers Being Seen

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Record Numbers Of Housebuyers Being Seen

Record Numbers Of Housebuyers Being Seen

With the UK starting to reopen for business once again and lockdown restrictions gradually being lifted, it seems that the housing market is now taking steps towards recovery, with Rightmove revealing that it recorded its busiest ever day on May 27th.

The site surpassed six million visits for the very first time, a rise of 18 per cent compared to the same day last year. More than a quarter of people who had no plans in place to move before lockdown started are now entering the market and the number of agreed sales is now beginning to gather pace – but it will take time for it to return to more typical levels.

The places registering the strongest interest from househunters compared to last year include northern towns and cities, as well as areas along the south coast. The biggest changes, in comparison to 2019, were in the postcode area of Canterbury, the TR postcode, which makes up about half the places in Cornwall, and Bournemouth.

Miles Shipside, commercial director and housing market analyst with Rightmove, said: “Usually we record our busiest days of the year in January and February and almost never when there is warm weather, so the combination of pent-up demand being released, new people entering the market and no half-term holidays during lockdown has led to this late spring boost.

“The challenge agents are facing is handling this surge in enquiries, having a process to deliver virtual viewings, and setting up socially distanced and safe physical viewings.”

He went on to say that homemovers’ priorities appear to have shifted somewhat, with more interest now being seen in outside space – which has meant that beautifully scenic places and areas where a quieter life may be possible have become more popular.

The UK House Price Index (HPI) for March shows that in England, on average, house prices have dipped by 0.1 per cent since February. The south-west saw the greatest monthly price rise, up by two per cent, while Yorkshire and the Humber saw the biggest monthly price fall of 3.6 per cent. The region also saw the lowest annual price growth, down by one per cent.

Where repossessions are concerned, the lowest number of such sales in January 2002 was in the east of England, while the highest number was seen in the north-west.

The HPI has now been suspended until further notice and some changes have been made to improve accuracy. For example, average price and percentage changes for new builds and existing resold property are not being published because there aren’t enough new build transactions taking place at the moment to provide reliable results.

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