The latest market insight by GetAgent has revealed which major cities have seen the biggest increases in market activity since the start of the year, with Sunderland leading the way with a 10% increase in the number of homes finding a buyer.
GetAgent analysed buyer demand across 21 major cities, looking at the number of homes that were selling in the current market as a proportion of all stock listed for sale.
The data showed that 45% of all homes currently listed across Britain either had an offer accepted or had been sold subject to contract.
This marked a 5% increase versus the start of the year, as buyer confidence has grown following two reductions to the base rate by the Bank of England.
Half of all homes listed in Sunderland currently have found a buyer – a 10% increase versus January of this year.
Leicester saw the second largest increase in buyer activity at 9%, with Liverpool (+8%), Newcastle (+7%) and Leeds (+6%) also making the top five.
London sat some way out of the top 10, having seen the 14th largest increase in demand at 3.3%.
Aberdeen saw buyer activity levels increase by just 0.2% since January, the lowest increase of all cities analysed by GetAgent.
However, every single major city had seen positive growth.
Colby Short, co-founder and CEO of GetAgent.co.uk, said: “As the year has progressed we’ve heard consistently improving reports from our member agents with respect to the market landscape, the number of buyers entering the market, and the volume deals being done.
“It’s clear that as the year has progressed, momentum has been building and this is evident given the fact that every single major city analysed has seen an increase in buyer demand levels since January.
“With the Government deciding not to extend current Stamp Duty relief thresholds beyond 31st March next year, we anticipate that buyer interest will only climb further and this sets us up for a very busy end to 2024 and an even busier start to 2025.”
