The South West of England saw a surge in homebuyer demand in the third quarter of year, new research has revealed.
As the stamp duty holiday continued to spur housing market activity, counties across the region saw demand soaring ahead of the national average over the period.
Dorset ranked second overall for property demand in England – only behind Northamptonshire – while Wiltshire, Somerset, Devon and Cornwall were listed in the top 10 in the Homebuyer Hotspots Demand Index.
Gloucestershire also came in high up the rankings, placing 11th overall in the country.
The index, by the estate agent comparison site GetAgent, monitors homebuyer demand across England on a quarterly basis, using market data from the major property portals, such as Rightmove.
Current demand is based on the proportion of stock listed as already sold (sold subject to contract or under offer) as a percentage of all stock listed for sale. For example, if 100 homes are listed and 50 are already sold, the demand score would be 50%.
According to the index, average buyer demand across England for the third quarter sat at 64.7%. Of the 49 English counties analysed within the data, 36 experienced homebuyer demand above the national average during the third quarter.
At the top of the list was Northamptonshire, where on average 75.3% of homes on the market were snapped up over the period. This was followed by Dorset at 74%, Suffolk at 73.8% and Wiltshire at 73.7%.
In the 13 counties that lagged behind the national average, only two dropped below 50%. They were the City of London (22.4%) and Greater London (44.2%), while Oxfordshire was home to the third-lowest demand level at 58%.
Colby Short, founder and chief executive of GetAgent, said: “It is no secret how strong homebuyer demand has been pretty much since the market reopened for business at the start of last year and despite the expiry of the stamp duty holiday, there are no signs of this heightened activity slowing anytime soon.
“Our latest gauge of buyer demand shows that there is still a remarkable appetite for homeownership across the length and breadth of the nation and with the market continuing to move at such breakneck speeds, it’s no surprise that house prices are still rising.
“For sellers, this should be very welcome news indeed as the chances of finding a motivated buyer who is willing to offer a fair price remain very good indeed.”
English counties listed from strongest homebuyer demand to lowest in Q3