2017’s housing market: Sudbury highest price growth, sold fastest in Livingston & Bristol most searched for place

As 2017 comes to a close Rightmove has looked at the best performing local markets across Great Britain this year.

Highest asking price growth

Sudbury in Suffolk comes top this year for homes increasing in value the most, with the average asking price of a property rising by 13.1% from £234,569 to £265,291. That’s compared to a national annual rise of 1.2%.1

Dan Gurney, Area Manager at William H Brown Estate Agents in Sudbury, comments on the area’s strong performance: “Sudbury ticks all the boxes in terms of location, standard of living, mix of attractive properties and wealth of amenities. It’s a thriving market town with picturesque countryside on its doorstep so, all combined, it’s no surprise that it tops the table for price growth. Sudbury is a property hotspot for those buyers attracted to its close proximity to Cambridge and range of Georgian and Victorian properties, plus we’ve seen a wave of buyers from London – it has certainly benefitted from a ‘ripple out’ effect where buyers look for more for their money away from climbing city house prices.”

All places in the top ten saw asking price growth of over 9% in 2017, and all were well below the national average of £302,865, with the cheapest being West Bromwich in the West Midlands where asking prices are currently £149,360, up 9.5% on this time last year.

Two places in West Yorkshire make the top ten, Sowerby Bridge and Todmorden, and two in Northamptonshire, Rushden and Kettering. Rushden made the top ten in 2016 as well, when prices went up by 13.4%.

Stephen Revell, Branch Manager at William H Brown Estate Agents in Sowerby Bridge, comments: “Popularity for Sowerby Bridge continues to grow.  It’s become a highly desirable village to live in, providing an affordable alternative to nearby, trendy Hebden Village, but it hasn’t lost its wonderful community spirit and village feel.  Buyers are certainly cottoning on to the fact that, in this location, you get a lot more property for your money without compromising on lifestyle and facilities.  Transport links include the M62 close by and train station with links to Manchester (in under an hour), Leeds and Liverpool beyond and, therefore, the area is attracting lots of young professionals as it’s perfect for commuters.  It’s also great for families as the area offers both outstanding primary and secondary schools plus there’s a variety of property types to suit all budgets. Sowerby Bridge provides something for everyone which hints at why it’s performed so well over the last year.”

 

Top ten highest asking price growth areas (outside London)

 

  Place Average asking price

Q4 2016

Average asking price

Q4 2017

% increase
1 Sudbury, Suffolk £234,569 £265,291 13.1%
2 Sowerby Bridge, West Yorkshire £170,398 £191,716 12.5%
3 Kendal, Cumbria £205,622 £226,163 10.0%
4 Burnham-On-Sea, Somerset £213,908 £235,083 9.9%
5 Todmorden, West Yorkshire £175,999 £193,408 9.9%
6 Havant, Hampshire £231,980 £254,379 9.7%
7 Rushden, Northamptonshire £207,499 £227,534 9.7%
8 Kettering, Northamptonshire £180,896 £198,354 9.7%
9 West Bromwich, West Midlands £136,393 £149,360 9.5%
10 March, Cambridgeshire £192,158 £210,157 9.4%


Fastest to sell

Livingston in West Lothian is where homes have been flying off the shelves the quickest, with the average home finding a buyer in just 23 days, seven days quicker than in 2016. The national average time to sell is 67 days, measured from when the property was first listed on Rightmove to it being marked by agents as ‘under offer’ or ‘sold subject to contract’.

Simon Thomas, Owner of RE/MAX Estate Agents in Livingston, said: “Livingston has become extremely popular with people working in Edinburgh as it’s more affordable and there are trains that can get you in to the centre within 30 minutes, adding to an already buoyant local market. Sales have been strong this year, especially in the first-time buyer sector with homes up to around £140,000, as well as family homes up to around £250,000. Supply has been quite tight which has led to buyers finding themselves up against a lot of competition to secure the home they want, which has led to properties selling more quickly than before.”

 

Top ten quickest places to sell

 

  Place No. of days

Q4 2017

Ave asking price
1 Livingston, West Lothian 23 £147,588
2 Edinburgh 34 £242,223
3 Corby, Northamptonshire 35 £173,720
4 Kettering, Northamptonshire 35 £198,354
5 Coventry, West Midlands 35 £201,971
6 Falkirk, Stirlingshire 36 £127,553
7 Glasgow 36 £150,388
8 Rugby, Warwickshire 36 £223,799
9 Aldershot, Hampshire 37 £279,343
10 Gillingham, Kent 37 £272,995


Most popular areas

Manchester has been knocked off the top spot for the most searched for place outside London this year, with Bristol making it back to number one for both buying and renting. York and Norwich rise a place each for buyer searches, while Edinburgh rises to fourth after featuring in tenth spot last year.

 

Sam Riddell, Senior Branch Manager of Andrews Property Group in Bishopston, said: “Bristol has grown in popularity in recent times for many reasons, employment is high and the property market is strong. However, it is the diverse culture of the City which has the most draw for people migrating to Bristol. From the many festivals each year to the street art we are famous for, Bristol has it all, independent shops on thriving High Streets such as Gloucester Road in the north and North Street in the South of the City are a mark of the heritage of Bristol along with the obvious landmarks such as the Clifton Suspension Bridge. Bristol has something for everyone from the bohemian streets of St Werburghs to the grandeur of Clifton Village.”

 

  Top buyer searches Top rental searches
1 Bristol Bristol
2 York Birmingham
3 Norwich Leeds
4 Edinburgh Manchester
5 Sheffield Nottingham
6 Birmingham Liverpool
7 Cambridge Glasgow
8 Bournemouth Cambridge
9 Manchester Bournemouth
10 Nottingham Sheffield

 

Miles Shipside, Rightmove’s Housing Expert, comments: “Although prices have grown at a muted rate of 1.2% nationally this year, there are a number of local markets where strong demand and short supply has led to pretty heady price rises, especially in areas where homes are relatively more affordable than some of their nearby cities.”

1 National average asking price is based on England and Wales.

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

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