Two notable things have happened to the UK property market over the past 18 months since that first lockdown in March 2020:
- UK house prices reached an all-time high in June, with Scottish house prices continuing to climb into July.
- City dwellers fled to the countryside in the hope of finding bigger homes with more space in towns and suburbs.
As a result, the property market in towns and suburbs has boomed, with high completion records for house sales.
So, whether you want to move to a new home or you’re a prospective buy-to-let (BTL) investor looking for the next seller’s market, find out the top five most in-demand property hotspots, as of September 2021.
1. Falkirk, Stirlingshire
Falkirk is a Scottish town that’s equidistant between Glasgow and Edinburgh. As a result, it’s unsurprisingly become a popular location for individuals leaving the two cities.
Rightmove reports that a remarkable 94% of house sales completed between June 2020 and June 2021, the highest rate in the UK.
2. Chorley, Lancashire
Chorley is located in the north-west of England just south of Preston and Blackburn. The town is particularly well-known for the “Chorley cake”, a flattened fruit-filled pastry.
The town had the highest completion rate of any English town, with Rightmove reporting that 81% of houses sales in Chorley were completed in the 12 months to June 2021.
3. Torfaen, Monmouthshire
Just north of Newport and not too far away from Cardiff, Torfaen is in south Wales.
80% of sales in Torfaen were completed from June 2020 to June 2021 according to Rightmove, making it the most successful seller’s market in Wales.
Welsh house prices reached an all-time high of £195,855 in June, before softening slightly to £187,960 in July, when data was last available.
Therefore, with a current average value of £190,183, Torfaen house prices are slightly above average.
4. Chesterfield, Derbyshire
Chesterfield is a town in Derbyshire, just south of Sheffield. Chesterfield was already somewhat of a commuter town for both Sheffield and Derby, so it’s unsurprising to see the property market booming.
In the 12 months up to June 2021, Rightmove found that 79% of Chesterfield house sales were completed.
The average price paid for those houses was £210,452, with the current average value falling slightly to £197,223 as of September 2021.
That means Chesterfield prices are significantly cheaper than the current English average price.
5. Nuneaton, Warwickshire
Situated just outside of Birmingham, Nuneaton is the largest town in Warwickshire by population.
Rightmove actually includes Bedworth as part of its house sales figures for Nuneaton, as the two towns report their figures together.
Across both towns, the search site reported that 78% of sales completed from April 2020 to April 2021.
Buyers paid an average of £235,034 in the past 12 months in Nuneaton. These prices are pushing closer to England’s average, although values have reportedly dropped to £224,446 as of September 2021.
Meanwhile, houses in Bedworth have cost just £209,537, with a current estimated value of £203,897. This may make it a more suitable choice than Nuneaton, especially if you’re looking for a BTL property.