Buyer demand jumps as September housing market springs to life

Buyer demand jumped at the start of September as the housing market recorded a much stronger post-summer bounce than usual, according to Rightmove.

Data from the property portal shows buyer demand increased by 5% during the first week of September.

That compares with an average rise of just 0.4% during the same period over the past five years.

The increase suggests buyers returned to the market more quickly following the summer holiday period.

However, demand remains below last year’s level.

Buyer activity stood 14% lower year-on-year at the end of August. The September increase narrowed that gap to 9% during the opening week of the month.

Buyer demand rises across all regions

Rightmove recorded an increase across every region of Great Britain.

London saw the strongest weekly rise, with buyer demand increasing by 9%.

The South West followed with an 8% increase. Meanwhile, the West Midlands and North East both recorded rises of around 7%.

Demand increased by 6% in both the East Midlands and South East.

The figures provide an early indication of stronger activity following a difficult summer for the sales market.

Buyer demand has faced pressure this year from economic uncertainty, geopolitical developments and periods of unusually hot weather.

The latest figures suggest the traditional September return to the housing market has started more strongly than in recent years.

However, with demand still 9% behind last year, the early September improvement has yet to close the annual gap.

Regional view of buyer demand % uplift: 

Colleen Babcock, Rightmove’s property commentator, said: “It’s encouraging to see buyers getting on with their moving plans and returning to the market as we head into the autumn season. However, it is still early in the month, we will be keeping an eye on this over the coming weeks.”

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