Easton in Bristol is this year’s strongest sellers’ market

  • Rightmove analysis of the year reveals Easton in Bristol is this year’s strongest sellers’ market, with more than eight out of every ten properties for sale being marked sold subject to contract (SSTC)
  • Hoxton is this year’s top buyer market, with nine out of every ten properties that have come to market for sale still available to buy
  • Four of the top ten sellers’ markets are in, or near to Bristol. Six of the top 20 are in Essex, and 18 of the top 20 are in the south of England
  • More than three quarters of houses (76%) up for sale for £250,000 and below across Great Britain are sold subject to contract, compared to 14% of flats worth £1 million or more
  • Available stock for agents is at a new record low, however there are signs that there will be more buyer choice heading into 2022, with valuation requests up by 19% compared to this time last year

New data from the UK’s biggest property website Rightmove reveals that Easton in Bristol is this year’s strongest sellers’ market.

A strong sellers’ market is an area where a high proportion of the homes that have come to market on Rightmove this year have found a buyer and been marked sold subject to contract (SSTC).

Four of the top ten sellers’ markets (Easton, Mangotsfield, Brislington, Trowbridge) are in, or near to Bristol. Six of the top 20 locations are in Essex, and 18 of the top 20 locations are in the south of England.

Exceptional buyer demand this year has led to seven out of every ten homes on Rightmove finding a buyer and being marked SSTC. This is compared to just two out of every ten in 2012.

Houses in the £250,000 or below bracket were the best performing for sellers this year, with more than three quarters (76%) finding a buyer and being marked SSTC. This was particularly strong in the South West, where 82% were marked SSTC, followed by the South East (82%) and East of England (79%).

This compares to just 15% of flats priced at £1 million or more that were marked SSTC, although these are marketed at a smaller group of buyers, and are often the best bracket to negotiate a deal.

In Hoxton, nine out of ten homes that have come to market this year on Rightmove are still available, making it this year’s top buyer market, followed by Aberdeen and Chelsea.

Eight of the top ten buyer markets are in London, and 16 of the top 20, highlighting the stark contrast in available properties in central London, and areas surrounding it.

Available stock per estate agency branch is at a new record low, however there are signs that there will be more buyer choice heading into 2022, as the number of people requesting a valuation of their home by an estate agent is up by 19% compared to this time last year.

Rightmove’s Director of Property Data Tim Bannister says: “This year, sellers in Great Britain have had a better chance of finding a buyer for their home than at any time over the past decade. A staggering statistic is that seven in ten properties for sale have been marked sold subject to contract this year, compared to two out of ten in 2012, highlighting both the speed and efficiency of the housing market. Managing short supply with high buyer demand has been a challenge for agents across Great Britain this year, and while the level of stock per agent is at record lows, the jump in number of people getting in touch with an agent to have their home valued suggests some fresh choice for buyers next year.”

   Strongest sellers’ markets

 

Area

 

% of homes Sold Subject to Contract (SSTC)

 

% of homes available

 

Average asking price 2021

 

Average asking price change

Easton 83% 17% £299,072 +7%
Andover 83% 17% £296,117 +4%
Mangotsfield 82% 18% £321,438 +7%
Eastleigh 81% 19% £356,412 +5%
Middlewood 81% 19% £214,208 +7%
Brislington 81% 19% £314,605 +5%
Redditch 81% 19% £238,364 +5%
Tilehurst 81% 19% £372,101 +5%
Trowbridge 81% 19% £257,706 +7%
Wickford 81% 19% £392,105 +3%
Bridgwater 80% 20% £207,277 +6%
Grays 80% 20% £336,740 +5%
Littlehampton 80% 20% £364,180 +6%
Basildon 80% 20% £326,624 +5%
Dartford 80% 20% £347,538 +5%
Witham 80% 20% £312,370 +6%
Bexleyheath 80% 20% £446,275 +5%
Benfleet 80% 20% £409,130 +5%
South Benfleet 80% 20% £426,783 +4%
St. Neots 80% 20% £318,358 +8%

 

   Top buyer markets

 

Area

 

% of homes Sold Subject to Contract (SSTC)

 

% of homes available

 

Average asking price 2021

 

Average asking price change

Hoxton 10% 90% £624,577 -6%
Aberdeen 15% 85% £167,783 +1%
Chelsea 15% 85% £1,821,683 +2%
Bayswater 15% 85% £1,161,711 -3%
Knightsbridge 16% 84% £3,639,322 -1%
Victoria 17% 83% £1,176,342 -8%
Maida Vale 18% 82% £1,232,074 +3%
Central Liverpool 20% 80% £166,929 +7%
Finsbury 20% 80% £813,608 -3%
Stockwell 21% 79% £819,908 +3%
Central Birmingham 21% 79% £216,075 -7%
Canary Wharf 22% 78% £564,559 -1%
Camden 23% 77% £1,017,850 -5%
Whitechapel 23% 77% £597,972 -3%
Southwark 24% 76% £787,341 -4%
Acton 25% 75% £628,342 1%
Notting Hill 25% 75% £1,207,747 -4%
Salford Quays 26% 74% £192,149 +6%
Fulham 26% 74% £1,071,662 3%
Cricklewood 27% 73% £663,620 2%

 

 Markets by price band

 

Price band

 

Property type

 

% of homes Sold Subject to Contract

 

% of homes available

£250,000 and under House 76% 24%
£250,000-500,000 House 71% 29%
£500,000-£750,000 House 65% 35%
£750,000-£1 million House 62% 38%
£250,000 and under Flat 58% 42%
£1 million plus House 50% 50%
£250,000-500,000 Flat 45% 55%
£500,000-£750,000 Flat 33% 67%
£750,000-£1 million Flat 24% 76%
£1 million plus Flat 15% 85%

 

ENDS

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