GetAgent.co.uk’s latest Homebuyer Hotspots Demand Index indicates a resurgence in the property market with buyer demand in Q1 2024 climbing by 1% compared to the last quarter of 2023, matching the demand levels of early 2023.
The index, which assesses homebuyer demand across England quarterly, calculates demand based on the percentage of properties sold or under offer against total listings. In the first quarter of this year, 42% of homes listed for sale found buyers, marking a 1% increase from Q4 2023 and a return to the demand seen at the start of 2023.
City of London witnessed the highest quarterly demand increase at 6%. West Yorkshire, Leicestershire, Tyne and Wear, Staffordshire, Durham, South Yorkshire, and Greater Manchester also saw notable growth, each with a 3% rise in demand.
Annually, Bedfordshire leads with a 6% increase in demand compared to Q1 2023. The City of London, Berkshire, and Greater London followed with significant annual increases in demand.
Bristol emerged as the top hotspot with 62% of listed homes sold, the highest current buyer demand. Berkshire, Tyne and Wear, South Yorkshire, Wiltshire, and Bedfordshire also showcased high demand levels.
Colby Short, co-founder and CEO of GetAgent.co.uk, reflects on the findings: “With transaction volumes looking pretty bleak still, all of us in the industry are looking further up the funnel for signs of better things to come. Thankfully the buyer demand figures paint a reassuring picture.”
