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
UK property sector gender pay gap keeps getting wider
UK property sector gender pay gap keeps getting wider and It now has the fourth largest gap across all UK industries The latest research from Yopa reveals that real estate remains one of the UK’s worst-performing industries when it comes to the gender pay gap, ranking as the fourth largest across all sectors after widening…
Read More
Britain’s most expensive streets revealed
The latest edition of Rightmove’s Most Expensive Streets report reveals that Winnington Road in Barnet, London, retains its position as Great Britain’s most expensive street, with an average asking price of £12,538,095 Chester Square in Westminster is second, with an average asking price of £11,546,428 and The Bishops Avenue in Barnet is third, with a price tag of £8,930,650 East Road…
Read More
Average mortgage deposit exceeds the average salary
In 62% of Britain’s housing markets, the average deposit exceeds the average salary The latest research from eXp UK reveals that in 62% of Britain’s housing markets, homebuyers must save a deposit that exceeds a full year’s earnings, underlining just how substantial the cost of homeownership has become across large parts of the country. eXp…
Read More 
Latest Halifax house price data shows a 1.3% increase
Here are some thoughts from the Industry Mary-Lou Press, President of NAEA Propertymark (National Association of Estate Agents), comments: “The latest Halifax House Price Index confirms that average property values have remained above the £300,000 mark for the second consecutive month, reinforcing the resilience of the UK housing market. Sustained pricing at this level…
Read More 
Halifax House Price Index February 2026
House prices rose in February as market maintains early-year momentum • House prices increased by +0.3% in February, following a +0.8% rise in January • Average property price is now £301,151, edging up to another new high • Annual growth of +1.3% is strongest in four months, up from +1.1% in January • Northern Ireland…
Read More 
These are London’s most imbalanced housing markets
The latest research from Benham and Reeves reveals the least balanced housing markets in London where for-sale stock most heavily outweighs rental stock, thus putting renters in a difficult position when trying to find a home in the capital. Benham and Reeves has analysed current residential property listings in London* to discover which boroughs offer…
Read More