City where almost 70% of homes listed on Rightmove are already under offer

Buyer demand outweighs supply by 20 to one in the south-east, above the UK average of 14 to one, research has revealed.

Data from Jackson-Stops & Staff, based on analysis of more than 750,000 properties listed and under offer on Rightmove, has revealed the areas where there is pent-up demand and where properties are being snapped up fast.

According to the research from the agents, more than half (52.7%) of properties presently on the market in the south-east are under offer, against the UK average average of 40.9%.

East Anglia is a very close second with 52.2% of properties under offer and a ratio of demand to supply currently standing at 17 to one.

London is showing some weakness with only 32.7% of properties under offer and only 4.1% of all the owner-occupied homes in the capital on the market, compared with the national average of 4.4%.

Northern Ireland, the north-east, Wales and the north-west all have the lowest levels of demand, with under 33% of properties under offer.

On a city basis, Bristol has the highest demand for homes among buyers with 67% of properties on the market under offer, closely followed by Northampton at 66.7%.

Belfast, Blackpool, Bradford and Middlesbrough are all described as blackspots with fewer than 30% of properties under offer.

Nick Leeming, chairman of Jackson-Stops & Staff, said: “Our unique analysis of over 90% of the nation’s market, shows which areas, cities and towns of the UK have the largest number of properties being snapped up by buyers.

“Buyer hotspots like Bristol and Northampton have two-thirds of their ‘for sale’ properties already under offer which could indicate future house price growth.

“The laws of demand and supply will continue to prevail and the demand built up in these hotspot regions and cities will not suddenly disappear post June 23.”

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