Bristol suburb is nation’s strongest sellers’ market says Rightmove
In England and Wales a typical estate agent currently has 27 properties for sale on their books, up from 15 last year but lower than the 31 in 2019.
St. George in Bristol’s West End (main picture) is the new strongest sellers’ market, with eight in 10 (80%) homes listed for sale so far this year finding a buyer and being marked Sold Subject to Contract (SSTC), research from Rightmove reveals.
Bishopston, also in Bristol is second (79%) and Heaton in Newcastle is third (77%).
IN-DEMAND
The rest of the top five is made up of other areas in Bristol, Horfield (77%) and Fishponds (76%), with the city remaining popular with buyers this year and consistently being one of the most in-demand locations outside of London.
Knightsbridge in London is the strongest buyers’ market, with around just one in five (18%) homes listed for sale this year being marked SSTC. However, by comparison the current average asking price in Knightsbridge is £4,017,845.
The top buyers’ markets are all in London, with Hendon (20%), Bayswater (20%), Southall (22%) and Maida Vale (22%) making up the rest of the top five. The strongest buyers’ market outside of London is Birmingham City Centre, where one in four homes (25%) have been marked SSTC this year.
Overall, Rightmove says that the number of available properties for sale has steadily improved this year compared with the record low levels of the pandemic market, though it remains historically constrained.
ENGLAND AND WALES
In England and Wales the number of available properties for sale is currently 10% lower than at this time in 2019. A typical estate agent currently has 27 properties for sale on their books, up from 15 last year but lower than the 31 in 2019.
Tim Bannister, Rightmove’s Property Expert, says: “Market activity has been less buoyant than the pandemic years but the latest local snapshot of seller activity shows that in many areas of Great Britain the majority of homes that are listed for sale still successfully find a buyer.
“Agents report that sellers wanting to attract a buyer in the current market need to be realistic on price, with those who are willing to price most competitively being more likely to have their home marked SSTC.”
