Hottest property markets revealed by Rightmove and Newquay is top

The fastest places to sell a property in Britain have been revealed and it is perhaps no surprise after the latest lockdown that a coastal town in Cornwall tops the list.

With its sandy beaches, easy access to green open spaces and offer of a holiday without going abroad, Newquay has proved popular among homebuyers since the beginning of the year, according to property website Rightmove.  

It analysed 300,000 homes that have been put on the market during that time and identified the locations where the most properties were sold.

The best places to be selling a property in Britain have been revealed by property website Rightmove

This four-bedroom house in Newquay, Cornwall, is for sale for £340,000 via David Ball estate agents

It said four in five homes in the town on the north coast of Cornwall have been snapped up since the start of the year, the highest percentage anywhere in Britain. 

It is followed by Newton-Le-Willows in Merseyside, where just under 82 per cent of properties have sold subject to contract, followed by Plymstock in Devon at 81 per cent.

Rightmove said that all areas of the top 10 hottest seller markets have seen asking prices hit records since the market reopened in May 2020, with seven of the 10 hitting a price record this year.

With its sandy beaches and easy access to green open spaces, Newquay has proved popular among homebuyers this year 

By contrast, there are a number of city centres where just one in five properties are marked as sold.

In Birmingham city centre, this is the case for 18 per cent of properties, while in Liverpool city centre, the figure stands at 22 per cent.

Other areas outside of city centres in the top 10 include the more expensive locations of Beaconsfield in Buckinghamshire where average asking prices are more than £1million, and Sunbury-on-Thames which has an average asking price of more than £500,000.

This three-bedroom house in Newton-Le-Willows is on the market for £185,000 via Think estate agents

This three-bedroom house in Plymstock is for sale for £250,000 via Cross Keys estate agents

It comes as housing stock has decreased, down 26 per cent on this time last year, although the market was closed in April 2020.

New properties coming up for sale improved in March and were 51 per cent higher than in February, but demand is still outstripping supply in a number of areas, Rightmove said.

Market momentum has been building in recent months. So far this year Rightmove has recorded 20 of its busiest ever days for visits to the site, with a new record set last Wednesday on April 7 when there were more than 9.3 million visits.

Tim Bannister, of Rightmove, said: ‘Areas around the North and South West are the stand-out seller’s markets right now, and places in Cornwall and Devon are continuing the trend of a desire to move to the seaside and countryside.

‘Suburbs are also faring well as some people move further out from the centre of cities. 

‘Both sale and rental properties in city centres have been suffering over the past year as the usual appeal to live there has temporarily been taken away, leading to more stock than usual being available, but we may see these start to shift more quickly over the next few months as lockdown restrictions continue to be removed.’

This three-bedroom house in Hailsham, East Sussex, is for sale for £295,000 via Crane & Co estate agents

Bradley Start, of Start & Co estate agents in Newquay, said: ‘The stock shortage is the worst I’ve seen in thirty years and there’s just seemingly endless demand.

‘We’re getting requests for viewings within minutes of a property going on Rightmove and many properties are going to best and final offers due to the competition, something that usually we would only see a few times a year.

‘It’s a mix of locals moving, people buying holiday homes and those relocating completely, which is leading to more out-of-town buyers than we would normally see.

‘Those who are choosing to relocate are, understandably, looking for a home right by the sea, which is pushing up demand even more for those homes with the all-coveted sea view. 

‘The lack of stock is mostly down to the fact that sellers are unsure that they will be able to find a replacement property to buy, but if more sellers decided to come to market this would help across the whole chain.’

And Simon Shepherd, Ashtons in Newton-Le-Willows, said: ‘The train station and high street have had a lot of development over the past few years which had already been increasing activity here, but the past year has just been crazy.

‘First-time buyers are queuing up for starter homes, and many of those moving from starter homes are looking for four-bed detached homes which are few and far between so when one comes up for sale it’s snapped up immediately, especially those that are within walking distance to the high street.

‘Some people are selling up their smaller houses closer into Liverpool and moving out here as well, which has pushed up prices to an all-time high. 

‘Right now I’ve had to rip up the rule book because the demand means it’s hard to predict what a home is going to sell for, as in many cases we’re achieving over the asking price.’

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