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TODAY'S OTHER NEWS

Rightmove reveals big winners from post-lockdown surge in demand

Rightmove has given a regional breakdown in where  buyer demand is strongest in the past two weeks.

It’s perhaps no surprise that the north west of England, Yorkshire and the Humberside are the locations with the biggest search demand. 

Hereford in the West Midlands tops the list with Wigan, Rochdale, Wilmslow and Scarborough making up the rest of the top five.

The coastal town Hastings the only place from the south of England to make the top 10 list.

In terms of property types and sale v asking prices, Rightmove says it’s typical family homes of three or four bedrooms that are achieving closest to asking price, with buyers agreeing to pay 98 per cent on average in England.

But other property types perform well too - it’s 97.5 per cent of the asking price being achieved for first-time buyer properties and 97.4 per cent for larger top of the ladder homes.

A separate study by Rightmove of the prices of over 7,000 newly agreed sales - provided to the portal large corporate agencies - shows that agents selling typical ‘second stepper’ homes (with three or four bedrooms homes but excluding four bedroom detached properties) are achieving closest to the last advertised asking price on Rightmove when agreeing a sale.

Rightmove housing analyst and commercial director Miles Shipside says: “Our new analysis of the prices that buyers are agreeing to pay shows that properties in the typical family home or second stepper sector are achieving closest to their asking prices. 

“If you exclude London and some more expensive areas in the south then these types of home are typically in the £250,000 to £500,000 price band. These are currently appealing because they’re likely to benefit from more space and a private garden, attributes that home-movers tell us are now even more important than before lockdown.

“There are still 175,000 sellers missing that would usually have come to market when it was closed, so sales agreed numbers will take a while to recover to normal levels, and much hinges on the deals that lenders are able to offer buyers in the current market.”

  • Paul Barrett

    3 and 4 bed properties will be in much demand.
    Many potential house purchasers will choose to miss out on the 1; 2 and 3 bed flats etc before they achieve their aspiration of 3 or 4 bed houses.

    They might as well miss out on all the costs of purchasing properties prior to their ideal one.
    People won't mind paying a toppy price for a 3 or 4 bed house as they know they won't ever have pay all the costs for the stepoer flats etc.
    To be able to buy a 4 or 3 bed with potential to extend is what everyone will be going for.

    ONLY the detritus of purchasers will go for the flats.
    People want a future proofed house.
    Lodgers may be taken on in the absence of additional family members.

    People want out of the cities especially where it has been proven WFH is viable.

    This will be effectively 'white flight' as very few from diverse communities will wish to move far away.

    This is something that doesn't concern people of white compared to those of colour.

    Trains will facilitate easy travel into cities so for those who now no longer need to commute every day they can move out to bigger and cheaper properties.

    This would be a very good thing as city jobs will be bringing that income to what have been traditionally poorer rural areas.

    You could even see the village schools having to be opened again!!

    Spreading city wealth to outlying country areas is vitally needed.
    WFH etc should transform the property market to benefit rural areas where the larger houses tend to be.





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