REVEALED: Areas where agents have sold highest proportion of homes on market

Rightmove has published property sales data revealing the strongest local housing markets where agents have sold the high proportion of homes this Autumn, placing Grays in Essex at pole position but also revealing that stock has hit rock bottom across the nation.

The portal says 84% of properties within the Thames-side town (main pic) listed on its site during October reached ‘Sold Subject to Contract’ (SSTC) status at an average asking price of £345,415.

Those just below it in the ‘top ten’ are the Bristol suburb of Mangotsfield, Redditch in Worcestershire, Yeovil in Somerset, Hythe in Kent, Gosport, Fareham and Eastleigh in Hampshire, Corby in Northamptonshire and the Sussex seaside town of Bognor Regis.

But Rightmove has also published the ten areas where the lowest percentage of properties have reached SSTC, which it somewhat charitably labels as ‘buyer markets’.

Of these are eight are in central London along with Liverpool city centre and Aberdeen.

The properties being sold most successfully by agents are houses and flats for sale at £250,000 or less.

But Rightmove says stock is at a historic low of 15 properties per agency across Great Britain, there are encouraging signs that the next few months might start to see some stock being replenished.

Its data chief Tim Bannister (pictured) says: “Sellers have had a better chance this year than at any time over the past decade of finding a buyer for their home, and new properties coming up for sale haven’t been able to keep pace with buyers who have been snapping them up.”

Grays anatomy

The Negotiator asked two leading estate agents Grays whether Rigthtmove’s claims have been reflected on the ground.

Paul Hull (pictured), Branch Partner at William H Brown, says: “I have lived in Grays and worked its property market for over 30 years and have never known the market to be so vibrant or demand for the area to be so high.

“2021 has been the busiest property market I have ever experienced, with sales results far beyond that ever recorded in our branch before. “Prices have increased dramatically as a result of such high demand and continue to do so as we prepare for what we expect to be an incredibly busy new year.”

Glenn Kempster from Kempsters Estate Agents, the area’s Guild member, adds: “I can confirm the high level of demand here in Grays.

“Anything that comes on to the market up to £500,000 generates at least 10-15 enquiries within the first 48 hours and several offers, often above asking price.

“Instruction and stock levels are as low as I can remember in my 31 years of trading although we are just starting to see an increase in valuations which hopefully bodes well for the market next year.”