Buyers continue to favour well-connected rural hotspots

Nick Leeming, Chairman of Jackson-Stops, comments on today’s ONS House Price Index:

“House prices in April dropped slightly on their record-breaking peak in March but still increased by 9% on the year. However, it’s important to note that year-on-year price growth will be skewed by the market closure this month last year.

“Hotspots in Somerset, Devon, Gloucestershire and South Oxfordshire continue to outperform the rest of the country price wise, as buyers continue to favour well-connected rural hotspots which benefit from natural surroundings and private outdoor space. This chimes with our branch data which shows that Taunton, Chipping Campden and Chichester received the highest amount of interest from buyers during the month, along with commuter strongholds, Sevenoaks, Dorking and Cranbrook.
“Although the market has cooled ever so slightly following the mad rush at the start of the year, we still saw 13 buyers chasing every instruction across our branches in April. These buyers are very unlikely to meet the Government’s stamp duty deadline and are proof that the market will remain strong during the second-half of the year, after the incentive has ended. 
“Early Summer is typically a great time to capitalise on buyers who are looking to make a move before the new school term starts in September, so I would encourage anyone who is thinking about listing their home to do so now to make the most of favourable market conditions.”
UK House Price Index: April 2021
- UK average house prices increased by 8.9% over the year to April 2021, down from 9.9% in March 2021
- Average house prices increased over the year in England to £268,000 (8.9%), in Wales to £185,000 (15.6%), in Scotland to £161,000 (6.3%) and in Northern Ireland to £149,000 (6.0%)