The Rightmove House Price Index was released on the 15th June, and its contents contains some welcome news for sellers and buyers alike.
Sticking with data from Rightmove, we’re now going to zoom in and have a look at the local market data for West London.
This graph shows the number of people who have been clicking on the full details of properties. The percentage change
Each point represents a rolling seven day average. For example, the data shown on 12th May compares the average daily detail views for 6th–12th May 2020 to 6th–12th May 2019.
As you can see from the graph, there was a sharp drop when lockdown was announced and there was a whole lot of uncertainty, but as of the 21st June, the figures are showing a 21% increase on last year which is great news! It means there are lots and lots of buyers out there looking for a new home.
Something that has changed since lockdown, are the priorities of buyers. With the majority of people being confined to their four walls combined with a new ability to work from home, it seems that it’s focussed the minds of both buyers and renters as to what they really want from their home.
One of the biggest changes, is the number of people looking for their own outside space. Rightmove searches for homes with gardens were up 42% in May compared to May 2019 and for renters they’re up a massive 84%.
The top five priorities for buyers are now:
Perhaps you’re dipping into the property market looking for your own dream home with an outdoor escape?
5 bedroom, semi-detached family home
Not only does this home have a stunning garden, you can throw open the doors and bring the outside in, creating a seamless space for you to enjoy.
Find out more here.
Rightmove Local Market Indicator [accessed 25/06/2020]
Rightmove House Price Index