According to the data, homeowners living in postcode district BS5 in Bristol, and M32 in Manchester, currently have the best market conditions for selling.
The monthly study examines buyer demand for each postcode district, by counting the number of properties for sale and calculating the percentage of these that are under offer or sold subject to contract: 0%-20% is very cold, 20%-35% is cold, 35%-50% is hot and anything above 50% is very hot – portrayed as degrees.
At the top of the leader board with a market heat temperature reading of 70 degrees are postcode districts BS5 and M32, revealing a very hot sellers’ market for each location. These were followed by BS3 Bristol (69), S18 Sheffield (68), B27 Birmingham (67), BS6 Bristol (67), B34 Birmingham (66), B37 Birmingham (66), BS4 Bristol (66) and B28 Birmingham (65).
Meanwhile, out of the top ten sellers’ markets, buyer demand has risen the most over the last twelve months in B34 Birmingham at 12%, followed by M32 Manchester at 7%.
Unsurprisingly, London continues to dominate PropCast’s top ten coldest postcodes, where homes are in a buyers’ market. NW8 in northwest London is the coolest for the second month in a row, dropping one degree to six, whilst also seeing the biggest annual fall in buyer demand at 33%. L2 in Liverpool ranked second place at eight degrees, but recorded the highest growth year on year in buyer demand, at 33%. London postcodes make up the rest of England & Wales’ ten hardest areas to sell a property – all between eight and eleven degrees. Meanwhile SW10 and WC2 were the only London postcodes to record growth in buyer demand over the last year.
At a time where conflicting information about the housing market causes confusion to homeowners, the figures allow people to confidentially identify true local market conditions, and predict how easy or hard it will be to sell their home.
Gavin Brazg, PropCast’s creator and professional property seller, comments; “By noting where’s ‘hot’ (sellers’ market) and where’s ‘cold’ (buyers’ market), PropCast can help homeowners determine how ‘quick and easy’ or ‘slow and hard’ it will be to sell their homes. With eight of this month’s hottest postcodes being in Bristol and Birmingham, these property markets are on fire. Homeowners here have it easier than elsewhere to sell as the balance of power is skewed in their favour because there are more buyers than homes for sale. Properties sell quicker and often after a bidding war as a result - as long as the initial asking price is set realistically. Both areas have appeared in PropCast’s top ten sellers’ markets for a couple of months now, so I expect this trend to continue in the short-term.
However, sellers in a cold buyers’ market, particular London, should not be downhearted because it’s still absolutely possible to sell well. Buyers are out there, as demonstrated by our analysis of how buyer demand has grown over the last twelve months. However, they’re more price and condition sensitive. The key to success is to identify the homes that are your direct competitors, and then position your home so it represents the best value for money."
If you wish to check out the historic data or find out more then go here
