UK homebuyer demand continues to boom in Q2

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The latest Homebuyer Hotspots Demand Index by the estate agent comparison site, GetAgent.co.uk, has revealed that homebuyer demand across the UK has continued to climb during Q2 2021.

GetAgent’s Hotspots Demand Index monitors homebuyer demand across the UK on a quarterly basis, using market data from the major property portals.

Current demand is based on the proportion of stock listed as already sold (sold subject to contract or under offer) as a percentage of all stock listed for sale. E.g, if 100 homes are listed and 50 are already sold, the demand score would be 50%.

The latest index shows that during the second quarter of this year, buyer demand across the UK increased for the fifth consecutive quarter. At 66% currently, this is a 6% increase on the previous quarter and a 23% jump since the stamp duty holiday was originally implemented at the end of Q2 last year.

Bournemouth has seen the largest uplift in demand in Q2, climbing 9%, with Swansea (8%), Cardiff, Plymouth, Southampton and Newcastle (6%) also seeing some of the biggest increases.

However, Manchester (-1%), Liverpool (-2%) and Leeds (-3%) have seen a marginal decline in buyer demand, while this drop has been larger in Belfast (-5%) and Oxford (-7%).

Homebuyer demand in London has climbed by 3% since the start of this year, although it remains flat at 46% between the first and second quarter.

Bexley has seen the largest uplift in buyer demand between the first and second quarters of this year (+4%), while Sutton, the City of London, Havering, Hillingdon and Hounslow have all seen an increase of 3% in Q2.

However, 14 London boroughs have seen a quarterly decline in buyer demand with Brent, Wandsworth, Hackney and Greenwich seeing the biggest declines, albeit of between just -2% and -4%.

Founder and CEO of GetAgent.co.uk, Colby Short, commented:

“There’s no doubt that the implementation of a stamp duty holiday in its various forms across the UK has helped boost buyer demand considerably since last year. This heightened market activity has continued throughout this year and the market has gone from strength to strength as a result.

 

With just the second phase of the extended deadline remaining in England, it will be interesting to see if this momentum remains over the third and fourth quarter, but it’s unlikely to cause any notable decline.

 

There remains a severe shortage of stock to meet even the most modest levels of buyer activity and while this remains the case, house price growth is likely to remain buoyant.”

 

UK Homebuyer Demand by Quarter/Year
Quarter/Year UK Homebuyer Demand Quarterly Change (%) Annual Change
Q2 2020 43% N/A 23%
Q3 2020 51% 8%
Q4 2020 57% 6%
Q1 2021 60% 3%
Q2 2021 66% 5%

 

Table shows UK homebuyer demand in the UK and across major UK cities
Location Q4, 2020 Demand % Q1, 2021 Demand % Q2, 2021 Demand % Change – Q1 2021 to Q2 2021 Change – Q4 2020 to Q2 2021
Bournemouth 58% 68% 77% 9% 19%
Swansea 51% 59% 67% 8% 15%
Cardiff 57% 62% 69% 6% 12%
Plymouth 64% 71% 77% 6% 14%
Southampton 56% 62% 68% 6% 12%
Newcastle 48% 55% 61% 6% 14%
Glasgow 70% 74% 78% 4% 8%
Edinburgh 55% 59% 63% 4% 8%
Portsmouth 63% 69% 73% 4% 10%
Leicester 55% 59% 63% 4% 8%
Bristol 71% 76% 80% 4% 8%
Nottingham 61% 67% 70% 3% 9%
Cambridge 58% 65% 68% 3% 10%
Newport 56% 60% 63% 3% 7%
Sheffield 70% 73% 75% 2% 6%
Birmingham 56% 61% 62% 1% 6%
London 43% 46% 47% 1% 3%
Aberdeen 13% 14% 14% 0% 1%
Manchester 55% 60% 59% -1% 3%
Liverpool 56% 62% 60% -2% 4%
Leeds 64% 71% 68% -3% 4%
Belfast 61% 65% 60% -5% -1%
Oxford 48% 58% 52% -7% 4%
UK overall 57% 60% 66% 6% 9%
           
Table shows homebuyer demand in London and across each London borough
Location Q4, 2020 Demand % Q1, 2021 Demand % Q2, 2021 Demand % Change – Q1 2021 to Q2 2021 Change – Q4 2020 to Q2 2021
Bexley 58% 61% 65% 4% 7%
Sutton 50% 52% 55% 3% 6%
City of London 53% 53% 57% 3% 4%
Havering 60% 74% 77% 3% 17%
Hillingdon 34% 38% 40% 3% 7%
Hounslow 63% 65% 67% 3% 4%
Ealing 45% 47% 49% 2% 4%
Kingston upon Thames 22% 27% 28% 2% 7%
Harrow 38% 41% 42% 2% 5%
Richmond upon Thames 57% 62% 64% 2% 7%
Bromley 49% 53% 54% 2% 5%
Merton 50% 51% 53% 1% 3%
Barking and Dagenham 38% 43% 45% 1% 7%
Haringey 67% 72% 73% 1% 7%
Enfield 62% 65% 66% 1% 5%
Croydon 34% 35% 35% 1% 1%
Hammersmith and Fulham 14% 15% 15% 0% 1%
Islington 56% 59% 59% 0% 4%
Lambeth 25% 28% 28% 0% 3%
Tower Hamlets 50% 51% 50% -1% 0%
Redbridge 40% 42% 41% -1% 1%
Southwark 25% 27% 26% -1% 2%
Lewisham 67% 69% 68% -1% 1%
Waltham Forest 38% 40% 40% -1% 1%
Barnet 17% 19% 18% -1% 1%
Newham 26% 27% 26% -1% 0%
Westminster 54% 56% 55% -1% 1%
Kensington and Chelsea 36% 37% 35% -1% -1%
Camden 35% 39% 37% -1% 2%
Greenwich 55% 58% 56% -2% 2%
Hackney 32% 37% 34% -2% 2%
Wandsworth 36% 36% 33% -3% -3%
Brent 39% 42% 39% -4% 0%
Average 43% 46% 46% 0% 3%

 


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