First week of housing market reopening in England – the stats so far
May 29, 2020
First week in the rental market
DEMAND
- Demand for rental property is up 33% compared to this time last year as the market reopens and renters jump into action, with Monday 18th May seeing the highest level of rental demand ever recorded in one day on Rightmove
STOCK & LET AGREED
- Almost 23,000 new rental listings have come to the market since the first day of reopening, down 10% on the same week last year
- Total available stock for rent is now up 13% since before lockdown
PRICES
- Asking rents are currently up 2.1% on 2019, down from an annual rate of 3% before lockdown. They are on average £1,089 per calendar month (for all of Great Britain)
BIGGEST RISERS
- Biggest increase in rental searches compared to last year are in Rotherham (+97%), Cambridge (+77%) and St Helens (+75%)
First week in the resale market
DEMAND
- Demand for property up for sale is now down just 7% compared to this time last year, and up 120% compared to the previous week
STOCK & SALES AGREED
- Almost 11,000 new sales listings have come to the market since the first day of reopening, 65% down on the same week last year although improving from 90% down during lockdown
- There is currently £230 billion worth of property currently on Rightmove, circa 95% of the housing market
- Total available stock for sale is down 2.5% since before lockdown
REDUCTIONS
- 1% of properties up for sale have been reduced over the past week, compared to 2% over the same week last year
- The average size of a reduction over the past week was 4.5%, the same size of a reduction as in the same week last year
ASKING PRICES
- Average asking prices of all property up for sale are up 2% on last year, the same as before the lockdown. The current average is £311,828 (for all of Great Britain)
BIGGEST RISERS
- Biggest increase in buyer searches compared to last year are Manchester (+60%), Liverpool (+54%) and Leeds (+38%)
TRAFFIC ON SITE
- On Tuesday 19th May Rightmove recorded the busiest day since Thursday 5th March, with almost 5.3 million visits, up 4% on the same day in May last year
Rightmove’s Housing Market expert, Miles Shipside, comments: “One week on from the surprise opening of the housing market and agents are still showing caution and quite rightly putting safety first, but many had already started to prepare during lockdown and so have been able to start reopening their branches and conducting viewings. The activity jump on Rightmove proves the determination of home-movers to continue with their plans over the next few months. The pause button put many of the usual metrics we report on out of kilter and so a week’s worth of data should only be taken as an early indication of activity, but it’s certainly encouraging.”
You May Also Enjoy
International buyer slowdown one of Prime London’s biggest challenges
The latest survey of UK prime residential agents by AgentWise has found that many believe a slowdown in international buyer activity to be one of the biggest challenges facing the market today, whilst many have also noted an increase in the number of clients looking to explore property opportunities overseas rather than the UK. AgentWise…
Read More 
Housing market hit by £21m increase in fall-through bill
The latest Fall-Through Index by the House Buyer Bureau reveals that the number of property fall-throughs across the UK increased by 9.8% during the first quarter of 2026, resulting in an additional £20.9m in costs to the housing market compared to the previous quarter. House Buyer Bureau analysed the latest data from TwentyCi on the estimated…
Read More 
Is UK Construction Stuck in a Rut?
Glenigan data for Q.2 shows construction performance weakening further, dashing hopes of recovery in H.2 2026 The value of underlying work starting on-site during the past three months declined 15% and fell 38% below last year’s levels. Residential construction starts fell sharply, dropping 31% against the preceding three months and plummeting 52% compared with…
Read More 
Home sellers have a 24-hour patience threshold
Survey shows that the age of instant communication has reached estate agencies New research from Street Group suggests Britain’s home sellers have developed a “24-hour patience threshold”, with the vast majority expecting estate agents to respond, provide updates or take action within a day at virtually every stage of the sales process. The survey of…
Read More 
Lloyds House Price Index for June 2026 – Thoughts from the Industry
The latest Lloyds House Price Index for June 2026 shows that: House prices increased by +0.2% between May 2026 and June 2026. Annual house price growth increased slightly to +0.6% in June 2026, up from +0.5% in May 2026. The average UK house price now stands at £299,330. Thoughts from the Industry Nathan…
Read More 
House prices edge up in June as borrowing costs start to ease
• House prices rose +0.2% in June, following a -0.2% fall in May • Average property price now £299,330 compared with £298,812 in May • Annual growth up slightly to +0.6%, from +0.5% in May • Northern Ireland continues to record the UK’s strongest annual growth at +7.4% Nations and regions house prices Northern…
Read More