Jun 30, 2021
3 min read
The sun is out, and more freedom is on the horizon. And with it, a significant uptick in people looking to buy a home. With the greatest supply and demand balance in a decade, the UK property market remains furiously competitive. As more lockdown restrictions ease, we expect to see buyer interest increase even further.
Across the board, asking prices soared to a new record high since the market reopened in May 2020. So, where are the property hotspots in the UK and, more importantly, is your home in one of them? This could give you something to think about in terms of selling your home.
According to recent data, the following areas have seen a jump in demand:
Known for its stunning beaches and far-reaching countryside, Gower is a West Wales gem. It's the first area in the UK to be designated an Area of Outstanding Natural Beauty, complete with the classic limestone coast and the variety of natural habitats. Thanks to the low crime rates and the number of good schools in the area, it’s no surprised that the ‘Hamptons of Swansea’ takes the top spot. In the last three months, we’ve seen a 20% increase in people searching for a move to Gower.
See what’s for sale in this top spot.
A big-hitter across the board, Wigan in the North West has become hot for those looking for a more affordable alternative to city life. And even with a 7% house price increase over the last year, it still remains a place to make your money go further. It’s highly rated as a ‘happy’ place to live and benefits from the two major cities of Liverpool and Manchester in easy reach.
This vibrant market town has a rich history with excellent transport links to Birmingham and Worcester. It’s a wonderful place to retreat if you’re looking for somewhere that has everything you need without feeling isolated. An escape to the countryside is never too far, either; Stourbridge borders one of the UK’s largest stretches of green belt land, which runs all the way to the Welsh coastline and offers stunning countryside views.
Take a peek at the latest properties for sale in Stourbridge.
Homes of all sizes are popular at the minute, with first-time buyers and empty-nesters looking for one- and two-bedroom flats. And in this search for space, two+ bedroom homes continue to spike. Five-bedroom properties have seen the biggest rise in sales in the last year, followed by four-bedroom homes. In particular, the pandemic has brought a big rise in demand for detached properties.
The stamp duty holiday (ending 30th June) especially caused many home buyers to look for bigger properties to make the most of the tax break (potentially up to £15,000 worth). The pandemic also caused a shift in homeowners making life changes and escaping to the countryside and coast in search of more space, both in terms of bedrooms and garden size.
The moving frenzy means that the total available properties on an agent’s book has dropped, while the number of sold houses has risen. Sellers have a stifling amount of interest at the moment, and they can afford to be picky. In essence, if you’re looking to buy in this hot market, be prepared to act fast and get ahead of the competition. Prepare your documents, line up a solicitor and leave your running shoes by the front door – be prepared to view a house instantly.
With Boomin’s Secret Properties and Sneak Peek features, you can see homes before they’re published anywhere else online. Simply search for your preferred location and scroll until you see the Secret Property and Sneak Peek adverts. You can then register your interest and be the first to know – effectively cutting the queue.
Curious to see what your home is worth? Book your free valuation from a trusted Estate Agent today.