Corsham in Wiltshire is January’s buyer demand hotspot

• The market town of Corsham in Wiltshire has topped the list of new buyer demand hotspots in January – areas where more enquiries were sent to estate agents compared to January last year
• Buyer demand in Corsham more than doubled in January (+124%) compared to January last year, and average asking prices in the area have risen 6% in the past 12 months
• Prestwick, in Ayrshire, was the second buyer demand hotspot, with enquiries jumping +116% compared to last year, and Dumbarton, Dunbartonshire, was third (+114%)
• Asking prices across the top 10 hotspots rose by an average of 7.9% compared to last year

New data from the UK’s biggest property website Rightmove reveals that Corsham in Wiltshire is the new buyer demand hotspot for January.

Buyer enquiries for properties available in the market town more than doubled in January compared to last year, while average asking prices have risen by 6% annually.

The coastal town of Prestwick in Ayrshire came second in the list of new buyer demand hotspots, with demand increasing by 116% compared to last January, and Dumbarton in Dunbartonshire on the River Clyde came third (+114%).

The top ten buyer demand hotspots are a mix of locations near the coast, market towns and urban areas, across six different regions, highlighting strong buyer demand across the whole of Great Britain at the start of the year.

Asking prices in the top 10 hotspots rose by an average of 7.9% annually, in line with the national average of 7.6% in January, however price movements in each area have varied over the last year due to differing supply and demand dynamics during the pandemic.

In London, Chelsea topped the list of buyer demand hotspots, with enquiries from buyers increasing by 88% compared to last January.

Barnes came second with an 83% jump in buyer demand, and Finsbury came third (+80%).

A sharp rise in buyer demand in many London areas reflects the changing social landscape compared to last year, when we had entered our third lockdown period.

Tim Bannister, Rightmove’s Director of Property Data comments: “The variety of locations in this month’s buyer demand hotspots really mirrors what we’re seeing at a regional and national level, which is high buyer demand in all areas of Great Britain at the start of the year. While the hotspots suggest a home by the coast is still high on many buyers’ priorities, the demand in urban areas like Leicester City Centre, or areas in commuting distance from the centre of cities like Liverpool and Manchester, suggests others are prioritising being near to their workplace or city amenities. Whilst price movements have varied across these areas reflecting their differing supply and demand dynamics over the last 12 months, it’s clear that right now the demand for properties in these locations is strong as we move in to the 2022 spring selling season. The London picture certainly looks very different than a year ago, when further lockdown restrictions dampened some demand to live in the capital. To see enquiries nearly doubling in some areas of London demonstrates how much it has bounced back in popularity over the last year.

Richard Thomson, Managing Director at Stonefield Estate Agents in Ayrshire, said: “Unprecedented demand for property in Prestwick is continuing to spur high house price growth with the vast proportion selling well above their home report valuations. Since the pandemic there has been a notable shift from buyers requiring more space – both inside and out for the family, and to work from home, meaning that proximity to ‘Head Office’ is now not the deciding factor for all buyers when choosing a property, rather quality of life has become the number one priority for most house hunters. This is where Prestwick has won hands down offering some great schools, a fine selection of restaurants and bars not to mention some world class golf courses and a wonderful beach. Transport links are also excellent including an International Airport, railway station with easy commuting to Glasgow by train or car.”

Buyer demand hotspots outside of London

Buyer demand hotspots in London