The pandemic has reshaped the housing market, with Britons escaping the capital and many expanding their homes. GetAgent analyzed the number of homes listed for sale in England and Wales to see which areas had seen the strongest recovery.
Analyzing the market between April 20 and May 12, 2020, and again between April 29 and May 12, 2021, experts noted an increase in home sales activity.
The reopening of the market last year and the added attraction of a stamp duty holiday resulted in the displacement of more people.
Just over 77,800 homes were listed for sale in 2021, an increase of 279% from the same data a year ago.
In terms of the biggest boost, there are now 946 more homes for sale in Birmingham than a year ago.
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“However, the reopening of the market and the addition of a stamp duty holiday has resulted in a resounding return to health.
“This has been seen pretty much across the board, whether it’s in the form of a substantial influx of inventory volumes in major cities across the country, or simply a more measured increase in smaller towns that equates to made a notable jump in terms of percentage. “
There are now 57,288 more properties for sale in the UK compared to the same time last year.
This is because many people are now working from home, either realizing they can live further away or wanting to expand.
Last year, the capital saw the price of an average house drop 1.4% in February, according to cadastral figures.
Beachfront homes have become extremely expensive over the past year, and many have packed their bags and moved to the coast.
According to Rightmove last year, online searches for properties in remote or coastal locations increased sharply.
The Shetland Islands, Sandbanks, St. Davids and South Devon were among the most popular places for people visiting properties after Britain’s first foreclosure.
At the time, Rightmove housing analyst Miles Shipside said, “People often use Rightmove for dreaming, so it’s no surprise that some of the rising search areas are the most dear ones from the UK.
“The beautiful far north areas on the list are probably a mix of people dreaming of living in a more remote location and those who are seriously considering a lifestyle change after the lockdown.”
The stamp duty holiday, which was introduced in July of last year, is now due to end in September of this year.
People taking advantage of the tax break could see them save thousands of dollars on their new home.