October 4, 2022

Property the very best and worst performing UK property markets of the final 5 years

In response to the findings, the South East has been the very best performing area with an annual common of 143,886 houses offered annually, adopted by the North West (110,437) and Scotland (101,885).

On the native authority stage, Birmingham has been the UK’s dwelling sellers hotspot, with a mean of 12,179 properties offered on an annual foundation.

Leeds has additionally carried out effectively with 11,726 houses offered on common annually, with Glasgow (11,579), Edinburgh (11,369) and Cornwall (10,093) additionally rating throughout the prime 5.

Nonetheless, on the subject of the worst place to be a house vendor, the Metropolis of London, Rutland and Merthyr Tydfil prime the desk.

A median of simply 201 houses per yr have been offered throughout the Metropolis of London during the last 5 years, with Rutland seeing simply 650, climbing to only 739 per yr in Merthyr Tydfil.

Richmondshire (746) and Oadby and Wigston (774) additionally rank throughout the prime 5 areas for the bottom gross sales volumes.

Chris Hodgkinson, Managing Director of Home Purchaser Bureau stated, “The pandemic property market increase has pushed home costs and transaction ranges to document highs during the last two years, however a interval of unprecedented increase doesn’t essentially reveal the place the very best performing pockets of the housing market are.

“When additionally taking into consideration a chronic interval the place the market underperformed attributable to political uncertainty attributable to Brexit, we are able to see which cities and cities have put within the strongest and most constant efficiency over an extended time frame.

“That isn’t to say that these areas to have seen the bottom stage of gross sales volumes aren’t fascinating, however it highlights the variety of the market and the way one space received’t essentially take pleasure in the identical increase interval as one other.

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“That is an extremely essential consideration when trying to promote your house as these granular ranges of market exercise and the costs achieved regionally are the elements that can affect your possibilities of promoting, not the benchmark set by the UK common.”