Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.
Buyer Demand Rises Sharply in September Across UK Housing Market
Buyer demand increased by 5% in the first week of September, according to data from Rightmove reported by Property Industry Eye. This marks a much stronger post-summer bounce than the average 0.4% rise seen during the same period over the past five years.
The figures indicate that buyers have returned to the market more quickly following the summer holiday period. However, demand remains below last year’s level, with buyer activity standing 14% lower year-on-year at the end of August. The September increase narrowed this gap to 9% during the opening week of the month.
Regional Increases Across Great Britain
Rightmove recorded an increase in buyer demand across every region of Great Britain. London saw the strongest weekly rise, with a 9% increase in buyer demand. The South West followed with an 8% increase, while the West Midlands and North East both recorded rises of around 7%. Demand increased by 6% in both the East Midlands and South East. The East of England saw a 5% rise, the North West 4%, Wales 3%, and Scotland 1%.
These figures provide an early indication of stronger activity following a difficult summer for the sales market. Buyer demand has faced pressure this year from economic uncertainty, geopolitical developments, and periods of unusually hot weather.
Implications for Letting Agents and Inventory Clerks
The increase in buyer demand may signal a busier period ahead for letting agents and inventory clerks, particularly in regions with the strongest growth. However, with demand still 9% behind last year, the market has not yet fully recovered to previous levels.
Source: Property Industry Eye