Lockdown: Rightmove give advice to renters during pandemic
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Rightmove, the UK’s largest property site, has named Corsham in Wiltshire as its new buyer demand hotspot for January 2022. The idyllic market town has seen a surge in demand with buyer demand having increased by 124 percent compared to January 2021. Asking prices in the town have also increased by more than six percent in the past 12 months, with the average home now hitting the market for £329,494.
The historic town is a sweet spot for commuters and countryside lovers thanks to its location.
The town is located on the edge of the Cotswolds, eight miles from Bath, 20 miles from Bristol and close to the A4.
The town is also home to Corsham Court, a stately home that is famed for its peacocks.
Rightmove named the coastal town of Prestwick in Ayrshire as the second most in-demand hotspot for buyers in January.
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Demand for homes increased by 116 percent compared to January 2021.
Ranked in third place was Dumbarton in Dunbartonshire on the River Clyde where there has been a 114 percent increase in demand.
Both Scottish regions have reasonable average asking prices with Prestwick homes being marketed for £172,166 on average, and Dumbarton for £138,836.
The top 10 spots named by Rightmove increased by an average of 7.9 percent annually in line with the national average of 7.6 percent in January.
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However, prices have differed in each area due to supply and demand dynamics.
In London, Chelsea topped the list of buyer demand hotspots with enquiries increasing by 88 percent compared to January 2021.
Barnes in Richmond upon Thames came in second place with an 83 percent increase in buyer demand while Finsbury came in third.
Rightmove said the recent rise in buyer demand in London reflects how the property market has changed when compared with last year.
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Tim Bannister, Rightmove’s Director of Property Data, said the variety of locations in this month’s buyer demand hotspots reflects how buyer demand has increased across the country.
He continued: “While the hotspots suggest a home by the coast is still high on many buyers’ priorities, the demand in urban areas like Leicester City Centre, or areas in commuting distance from the centre of cities like Liverpool and Manchester, suggests others are prioritising being near to their workplace or city amenities.
“Whilst price movements have varied across these areas reflecting their differing supply and demand dynamics over the last 12 months, it’s clear that right now the demand for properties in these locations is strong as we move in to the 2022 spring selling season.
“The London picture certainly looks very different than a year ago, when further lockdown restrictions dampened some demand to live in the capital.
“To see enquiries nearly doubling in some areas of London demonstrates how much it has bounced back in popularity over the last year.”
Buyer demand hotspots outside of London:
1. Corsham, Wiltshire
2. Prestwick, Ayrshire
3. Dumbarton, Dunbartonshire
4. Hope Valley, Derbyshire
5. Todmorden, West Yorkshire
6. Cradley Heath, West Midlands
7. Leicester City Centre
8. Bolsover, Derbyshire
9. Kirkby, Merseyside
10. Kirkby, Merseyside
Buyer demand hotspots in London:
5. Golders Green
7. Raynes Park
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