Rightmove unveils ‘most sought after place to buy’ in the UK with record levels of sales
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The property market is continuing to boom across the UK with house prices hitting record highs. The new data from Rightmove has revealed what buyer demand is like in local areas based on over 2.7 million home-hunters who are signed up to receive instant property alerts. The most sought-after location to buy is Didsbury in Greater Manchester, which is also one of the most expensive areas in the county.
The average asking price in Didsbury is now £367,429 – over £130,000 higher than the Greater Manchester average of £237,380.
Walthamstow in East London came in second place where asking prices have increased by 116 percent over the past ten years.
The average price of a property in the London borough is now £499,534.
Wirral in Merseyside came in third place where the average asking price is now £287,243.
Prestwich in Greater Manchester and Horsforth in West Yorkshire were the fourth and fifth most sought-after locations, according to the UK’s biggest property website.
However, demand is still largely outstripping supply in the UK but the amount of new listings has improved.
A whopping 260,000 homes have come to the market in the last two months.
Rightmove’s property expert Tim Bannister said the data gives sellers in these local areas an idea of how popular their area is.
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Mr Bannister also said the market remains incredibly fast-moving as buyers realise they can’t wait until the weekend to decide which properties they want to view.
He added: “We’re hearing reports of some areas where properties are selling within a few days of being added to Rightmove, and the average time to find a buyer is the quickest we’ve ever recorded nationally.
“But we also know there are thousands of local markets and some are moving more slowly than others, so as a seller you’ll want your property being seen by the biggest group of buyers possible, giving it the best chance of selling and achieving the best price.”
Local estate and managing director of Philip James Kennedy in Didsbury Village, Rob Kennedy, said the property market in Didsbury has “surged” with record levels of sales and multiple bids on properties.
He also said house prices have increased in the area and are selling and completing faster.
He continued: “During these unprecedented times the importance of ‘home’ has increased with many buyers wanting more space working from home; more space to relax and exercise, and many buyers wanting more outside space, easy access to a local park or larger garden.
“Built within the backdrop of wealthy merchant mansion homes and exclusive conservation areas, Didsbury offers a wide variety of exclusive properties with early Victorian cottages; late Victorian terraces and traditional semi’s through to ‘Arts and Crafts’ detached family homes and futuristic apartment and townhouse developments.
“Fashionable West Didsbury village consists of predominantly late Victorian terrace properties arranged around irrepressible Burton Road within family sized villas, mansion terraces, and sought after modern and converted luxury apartment developments.
“Both villages are geographically small but have beautiful parks, outstanding educational establishments, specialist food shops, a well-established café culture, upmarket bars and award winning restaurants.”
The stamp duty holiday extension has also had a huge impact on the UK property market.
The property tax savings are currently for homes bought for under £500,000.
However, transactions have to be completed by June 30, otherwise Britons could be faced with a hefty tax bill.
The £500,000 threshold will drop to £250,000 at the beginning of July before then returning to £125,000 at the beginning of October.
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