The latest research by Birmingham estate and lettings agent, Barrows and Forrester, shows where England’s most promising homebuyer markets are, based on the property market balance between sales and rentals.
Across England, there are currently some 614,546 properties listed on the housing market, 82% of which are for sale with the remaining 18% for rent. For budding homebuyers looking to find parts of the country where sale properties are most plentiful, there are a number of standout English locations to consider.
On the Isle of Wight, for sale properties account for 96% of property listings currently on the market, leaving just 4% within the rental market.
It’s a similar story in Cornwall where for sale homes account for 95% of today’s market leaving 5% for rental.
In Northumberland, 94% of homes on the market are for sale; 93% of the market in Cumbria and Herefordshire is currently made up of sale properties, while 91% of the market in Wiltshire, West Sussex, and Gloucestershire is homes for sale rather than let.
Finally, Rutland, Shropshire, Norfolk, and Northamptonshire respectively all have markets made up of 90% homes for sale.
At the other end of the scale, the City of London has the lowest percentage of sale homes on the market, accounting for just 61% while rental homes account for 39% of everything currently available.
It’s a similar story in Durham where homes for sale account for just 64% of the market, and Tyne and Wear where they account for 69%.
Managing Director of Barrows and Forrester, James Forrester, commented:
“The housing market in England is experiencing a period of unprecedented demand and in many areas of the market competition for available stock is fierce. As a result, some buyers are struggling to even make it to a viewing before homes are going under offer and so speed is certainly of the essence.
The good news is that the property sales market does account for the majority of market activity across the nation and so the current landscape certainly favours homebuyers over those looking to rent.
However, some areas pose a better chance of securing a property than others due to the imbalance of homes for sale versus those to rent and it helps to know just how competitive your chosen market is when looking to buy.”