Glasgow, Bristol, Nottingham, Stoke and Middlesbrough are the top five busiest markets in the UK
The UK housing market recorded property sales worth £149bn in the first 15 weeks of 2021, almost double the price of homes sold in the same period in 2020 and 2019. Masu.
These are the latest findings from Zoopla’s monthly house price index, the UK’s leading property portal.
This number has been fueled by the persistent ‘search for space’ that emerged during the pandemic and has shaped the market over the past 12 months.
One in 50 homes were sold between January 1 and April 15, up from one in 100 homes sold during the same period last year.
Glasgow, Bristol, Nottingham, Stoke and Middlesbrough are the top five busiest sales markets in the UK.
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Sales supply of new homes has proven to be a victim of extreme market momentum, with the number of homes available for purchase in the first half of April 30% lower than inventory levels recorded during the same period in 2018. % decreased. A relatively “normal” market from 2017 to 2019.
Additionally, the total number of homes for sale year-to-date is 19% lower than the average level recorded in 2020. This is despite a 50-day market closure in England last year (longer in Wales and Scotland), which saw very few markets. -No new shares were introduced to the market.
Three- and four-bedroom homes recorded the largest decline in supply over the year, reflecting buyer demand for more space and the overall trend of homeowners upsizing. It reflects.
Buyer demand peaked in the week after Easter, at twice the level of the same period between 2017 and 2019, and is currently at about the average level of 2020, despite the acceleration in demand recorded during the pandemic. Comparatively, it has increased by 27% since the beginning of the year. .
However, since the first phase of lockdown easing began in England on April 12, buyer demand has eased slightly. This comes as households begin to focus on being closer to friends and family and taking advantage of leisure activities and amenities that have been unavailable since January.
David Ross, managing director of Hometrack, said: “As lockdown eases, behavioral changes occur, with children going back to school and people feeling more comfortable letting buyers view their homes. This has led to an increase in the number of family homes for sale.” ”
“However, it is not enough to meet market demand for additional space.Residential homes now make up 59% of listings, down from 76% in 2017.”
“There is a resurgence of first-time buyers taking advantage of 95% LTV mortgage-backed products, further constraining available supply. All of this continues to support short-term price increases, which have slowed slightly this month. However, this is the fifth consecutive month in which the annual growth rate has remained above 4.0%.
