REVEALED: UK’s hottest property markets for estate agents

The ‘hottest’ property markets in the UK have been revealed after agent comparison site GetAgent analysed buyer demand in 21 major cities after looking at the number of homes being sold a proportion of all stock listed and comparing that with the start of the year.

Co-founder of GetAgent.co.uk, Colby Short, says the data reveals that 45% of all homes currently listed across Britain have either had an offer accepted or been sold subject to contract.

This, he adds, marks a 5% increase versus the start of the year as buyer confidence has grown following two reductions in the base rate. Of the 21 cities analysed, it’s Sunderland that has seen the biggest uplift in buyer activity for property.

Increases

Half of all property there listed have found a buyer – a 10% increase compared to January. Leicester saw the next largest increase in buyer activity at 9%, with Liverpool (+8%), Newcastle (+7%) and Leeds (+6%) also making the top five.

London sits some way out of the top 10 at number 14th with an increase of just 3.3%.

And the lowest increase of all is in Aberdeen, where buyer activity levels have increased by just 0.2% since January.

Every single major city though, has seen at least some kind of positive growth in buyer demand.”

Short adds: “As the year has progressed we’ve heard consistently improving reports from our member agents with respect to the market landscape, the number of buyers entering the market, and the volume of deals being done.

“It’s clear that as the year has progressed, momentum has been building and this is evident given the fact that every single major city analysed has seen an increase in buyer demand levels since January.

“With the Government deciding not to extend current stamp duty relief thresholds beyond 31st March next year, we anticipate that buyer interest will only climb further and this sets us up for a very busy end to 2024 and an even busier start to 2025.”