London was probably the most searched location for home hunters trying on-line in 2022, it has been revealed.
It’s in sharp distinction to the years of the pandemic which noticed consumers shun metropolis centres in favour of rural and seaside places in a development now generally known as the ‘race for area’.
Areas akin to Cornwall and Devon grew to become extremely sought-after at the moment with home costs hovering amid a scarcity of provide of houses to purchase.
Throughout that interval – particularly a number of months in 2021 – Cornwall even changed London as probably the most looked for location on Rightmove.
The capital was probably the most looked for location on Rightmove this yr, overtaking common seaside places
| Rank | Space |
|---|---|
| 1 | London |
| 2 | Cornwall |
| 3 | Devon |
| 4 | Bristol |
| 5 | Glasgow |
| 6 | Manchester |
| 7 | Edinburgh |
| 8 | Sheffield |
| 9 | York |
| 10 | Cambridge |
| Supply: Rightmove | |
Quick ahead to this yr and the development has reversed, as purchaser search behaviour returns in direction of extra regular pre-pandemic patterns.
Searches for London elevated by 9 per cent in contrast with final yr, whereas searches for Cornwall dropped by 18 per cent and by 17 per cent in Devon, in accordance with Rightmove.
The property web site stated that London had 36 per cent extra purchaser searches than Cornwall on the finish of the yr, which is the largest hole since 2019.
It compares to final yr when there was only a 3 per cent hole within the variety of searches between London and Cornwall.
Rightmove instructed that the rise in searches for London alongside the lower in searches for Cornwall and Devon signifies that the development of looking of the capital, and to the coast or countryside, could also be ‘behind us’ in 2023.
The property web site went on to determine the quickest promoting markets.
Livingston in West Lothian, Scotland, is that this yr’s quickest market, with houses within the space discovering a purchaser in a mean of simply over two weeks or 15 days.
The entire prime 5 areas are in Scotland, with Bo’ness, West Lothian in second place and Larbert, Stirlingshire in third.
The small village of Picket Piece in Hampshire is the quickest market outdoors of Scotland. Sellers in Picket Piece discovered consumers in a mean of 16 days this yr.
| Rank | Space | Common Asking Value | Time to discover a purchaser 2022 (days) | Change in time to discover a purchaser versus 2021 (days) |
|---|---|---|---|---|
| 1 | Livingston, West Lothian | £192,695 | 15 | -5 |
| 2 | Bo’ness, West Lothian | £160,710 | 15 | -4 |
| 3 | Larbert, Stirlingshire | £215,189 | 15 | -1 |
| 4 | Falkirk, Stirlingshire | £142,465 | 16 | -1 |
| 5 | Bellshill, Lanarkshire | £118,883 | 16 | 0 |
| Supply: Rightmove | ||||
Areas akin to Cornwall and Devon grew to become common amongst home hunters in the course of the pandemic
| Rank | Space | Common Asking Value | Time to discover a purchaser 2022 (days) | Change in time to discover a purchaser versus 2021 (days) |
|---|---|---|---|---|
| 1 | Picket Piece, Hampshire | £326,737 | 16 | -9 |
| 2 | Fishponds, Bristol | £316,410 | 17 | -8 |
| 3 | Peverell, Devon | £263,132 | 18 | -9 |
| 4 | Tuffley, Gloucestershire | £257,216 | 18 | -7 |
| 5 | Melksham, Wiltshire | £289,133 | 18 | -13 |
| Supply: Rightmove | ||||
Aggressive rental market
This yr has seen probably the most aggressive rental market on report. At its peak, there have been quadruple the variety of tenants enquiring about properties to maneuver to, as there have been properties to hire.
Rightmove additionally tracked shifts in what tenants are in search of this yr.
Tenant searches for properties with payments included are up 57 per cent in contrast with this time final yr. The numerous improve in searches displays higher concern from tenants about their power payments, and elevated curiosity in properties that may embrace payments inside the month-to-month hire.
Tim Bannister, of Rightmove, stated: ‘This yr folks looking for their subsequent residence have effectively and actually returned to the capital – we began to see the tide turning in direction of the tip of final yr, and all through 2022 a variety of our developments out there have began to go again in direction of the place they had been in 2019.
‘Tenants have proven by their search behaviour how interesting a house with payments included could possibly be. Any landlord who is ready to provide this added incentive subsequent yr, is prone to be met with an orderly queue of ready-to-go tenants to select from.’
