Best chance of finding a buyer over past ten years across all areas of Great Britain
- Nearly seven in ten homes (68%) across Great Britain have found a buyer in the current market, the highest percentage recorded over the past ten years
- On average just over half (53%) of properties up for sale successfully found a buyer between 2012 and early 2020, highlighting the strength of the market over the past year
- Scotland has the highest sales rate in Great Britain at 89%, while London saw the lowest with just under half (48%) of homes being sold
- The top ten places where people were most likely to successfully sell their home are all in Scotland, with the top three being Falkirk (94%), East Dunbartonshire (94%) and South Lanarkshire (93%)
- Outside of Scotland the top three are Sheffield (83%), Craven (81%) and Chorley (81%), while the areas with the lowest sales rate are Westminster (22%), Kensington & Chelsea (25%), and Camden (28%)
New data revealed today from the UK’s biggest property website Rightmove shows that the likelihood of sellers successfully securing a buyer in the current market is at its highest point at any time over the past ten years.
The analysis of over 13 million listings tracked the journey of a property going up for sale to being marked sold subject to contract. Sales that fell through and went on to secure a buyer again were only counted once.
Across Great Britain, 68% of homes successfully found a buyer between June 2020 and June 2021, a jump from 41% in 2012, and the highest percentage in any year over the past ten years.
Looking between 2012 and early 2020, 53% of homes found a buyer on average, with the other 47% either being withdrawn from sale or staying on the market.
Scotland leads the way with 89% of homes successfully finding a buyer, compared to 48% in London. The next best performing area is Yorkshire & the Humber, with nearly eight in every ten homes, 77%, selling.
Areas at the top of the list are all in Scotland, with 94% of homes in Falkirk & East Dunbartonshire finding a buyer, while the bottom end includes high-end markets of London such as Westminster (22%), Kensington & Chelsea (25%), and Camden (28%).
Tim Bannister, Director of Property Data at property website Rightmove, says: “There’s been a much greater chance of a seller finding a buyer over the past year, which really highlights the sheer number of people who have been determined to move. While the long-term average shows that typically around half of properties sell, the increase in 2021 reflects the frenzied buyer activity we’ve seen in the current market, driven by multiple factors such as pent up demand and changing priorities. This efficiency in the market means agents are operating on limited stock, and they need more homes to satisfy all types of buyers. We’ve seen from previous research that Scotland often contains the most likely areas to find a buyer, and London the least, however the broader numbers are reflective of the trend we’ve been seeing all year, which is that buyers have widened their scope, and the popularity of every area in Great Britain is increasing.”
You May Also Enjoy
Property compliance experts urge landlords not to ignore major tenancy changes under Renters’ Rights Act
Nationwide becoming first lender to allow mortgage deeds to be signed digitally
Fruitful year ahead for aspiring first-time buyers
Lovelocked London homebuyers face romance premium
First-time buyers face highest hurdle in England
