The housing market was put on hold during the initial stages of the UK lockdown. However, once it reopened the pent-up demand was revealed as the market recovered quickly according to experts, despite warnings of a potential crash with the recession. But some areas have proved more popular than others as priorities change for buyers.
Willenhall in the West Midlands topped the charts as the fastest moving market in the country.
The area has seen the quickest sales since the restrictions were eased and movers got the green light.
A huge 55 percent of newly listed properties put up for sale in the market town have already found a buyer, according to the report.
Houses in the area have an average asking price of £171,506, making it one of the cheaper locations in England.
With similar figures, Runcorn in Cheshire, Walthamstow in London, Wallsend in Tyne and Wear and Wallasey in Merseyside were not far behind as some of the fastest moving markets, with around half of all properties being sold already.
In fact, the capital has become the slowest moving market in England with eight out of ten of the slowest movers all being in London.
Rightmove’s property expert Miles Shipside said: “I can’t see there being a mass exodus from the capital, but it does look set to be much more challenging for sellers of more expensive properties in zone 1 and parts of zone 2 who are looking to sell quickly, as people instead look further out to the end of the tube line to places like Walthamstow.
“The bounce back has been quite remarkable in many parts of the country, and agents in areas where new instructions are selling like hot cakes will likely have been struggling to cope with the demand, especially with safe viewing procedures also in place.
“It’s encouraging that properties that came to market before the lockdown started are also selling, in some cases ones that have been up for sale for over six months, giving those people who struggled to sell for whatever reason at the start of the year the chance to now move on to the next step in their journey.”
The fastest moving markets in England according to the RightMove research are:
Willenhall, West Midlands
Walthamstow, East London
Wallsend, Tyne and Wear
Brockley, South East London
Oldham, Greater Manchester