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Property buyer and rental demand surge in UK

Christian Fernsby ▼ | May 22, 2020
Demand for property jumped 120 per cent in the week since the property market emerged from its coronavirus lockdown, analysis by Rightmove has showed.
UK house
Demand   UK house
The property website found interest in homes for sale is now down just seven per cent compared to the same point last year.

Last week, the government said people could again move homes and view properties after the market was put on standstill in March.

Almost 11,000 new sales listings have been put on the market since the first day of reopening, Rightmove said.

This is 65 per cent down on the same week last year, but a 90 per cent increase compared to the weeks when the market was in lockdown.

Total available stock for sale is down 2.5 per cent since before lockdown.

Only one per cent of properties up for sale have been reduced in price over the past week, compared to two per cent over the same week last year.

Average asking prices of all property up for sale are up two per cent on last year, the same as before the lockdown. The current average UK value stands at £311,828.


 

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