Home Property Property the best and worst performing UK property markets of the last five years

Property the best and worst performing UK property markets of the last five years

by LLP Staff Reporter
19th Aug 22 1:08 pm

According to the findings, the South East has been the best performing region with an annual average of 143,886 homes sold each year, followed by the North West (110,437) and Scotland (101,885).

At the local authority level, Birmingham has been the UK’s home sellers hotspot, with an average of 12,179 properties sold on an annual basis.

Leeds has also performed well with 11,726 homes sold on average each year, with Glasgow (11,579), Edinburgh (11,369) and Cornwall (10,093) also ranking within the top five.

However, when it comes to the worst place to be a home seller, the City of London, Rutland and Merthyr Tydfil top the table.

An average of just 201 homes per year have been sold across the City of London over the last five years, with Rutland seeing just 650, climbing to just 739 per year in Merthyr Tydfil.

Richmondshire (746) and Oadby and Wigston (774) also rank within the top five areas for the lowest sales volumes.

Chris Hodgkinson, Managing Director of House Buyer Bureau said, “The pandemic property market boom has pushed house prices and transaction levels to record highs over the last two years, but a period of unprecedented boom doesn’t necessarily reveal where the best performing pockets of the housing market are.

“When also taking into account a prolonged period where the market underperformed due to political uncertainty caused by Brexit, we can see which towns and cities have put in the strongest and most consistent performance over a longer period of time.

“That isn’t to say that those areas to have seen the lowest level of sales volumes aren’t desirable, but it highlights the diversity of the market and how one area won’t necessarily enjoy the same boom period as another.

“This is an incredibly important consideration when looking to sell your home as these granular levels of market activity and the prices achieved locally are the factors that will impact your chances of selling, not the benchmark set by the UK average.”

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