The market has picked up since lockdown restrictions were eased in England on 13th May. On 19th May, we recorded the busiest day for traffic since 5th March, with 5.3 million visits – up 4% on the same day in May last year. Here’s a summary of other key numbers you can use to reassure your clients that there’s a lot of activity going on.
Demand for rental property is up 33% compared to this time last year as the market reopens and renters jump into action, with Monday 18th May seeing the highest level of rental demand ever recorded in one day on Rightmove
Almost 23,000 new rental listings have come to the market since the first day of reopening, down 10% on the same week last year
Total available stock for rent is now up 13% since before lockdown
Asking rents are currently up 2.1% on 2019, down from an annual rate of 3% before lockdown. They are on average £1,089 per calendar month (for all of Great Britain)
Biggest increase in rental searches compared to last year are in Rotherham (+97%), Cambridge (+77%) and St Helens (+75%)
Demand for property up for sale is now down just 7% compared to this time last year, and up 120% compared to the previous week
Almost 11,000 new sales listings have come to the market since the first day of reopening, 65% down on the same week last year although improving from 90% down during lockdown
There is currently £230 billion worth of property currently on Rightmove, circa 95% of the housing market
Total available stock for sale is down 2.5% since before lockdown
1% of properties up for sale have been reduced over the past week, compared to 2% over the same week last year
The average size of a reduction over the past week was 4.5%, the same size of a reduction as in the same week last year
Average asking prices of all property up for sale are up 2% on last year, the same as before the lockdown. The current average is £311,828 (for all of Great Britain)
Biggest increase in buyer searches compared to last year are Manchester (+60%), Liverpool (+54%) and Leeds (+38%)
When sharing these stats, please source “Rightmove data, 21st May 2020”.
Looking for a more local view?
To see how your local area is recovering, check out the Local Market Indicator.