"Stability has been key in tempting buyers back into the fold over the last year, and it’s clear that with interest rates stabilising and then falling, the resulting improvements to mortgage affordability has helped to drive the market forward"
- Marc von Grundherr - Benham and Reeves
New research from London estate and lettings agent Benham and Reeves reveals a widespread uptick in buyer activity across England, with all but two counties seeing an increase in homes going under offer over the past year.
The study tracked homes marked as sold subject to contract since Q1 2024, showing an average quarterly rise in buyer activity of 3.7%. The most notable increase was in Lincolnshire, which recorded a 6% quarterly average boost, followed by Cumbria at 5.9% and Rutland at 5.5%.
Other strong-performing areas include Cheshire (+5.4%), Worcestershire (+5.1%), Essex and Oxfordshire (both +5%), and East Riding of Yorkshire, Leicestershire, and Warwickshire (all at +4.9%).
This trend could be of particular interest to landlords eyeing capital growth potential or considering portfolio expansion in regions with growing buyer interest.
Only two counties bucked the trend. The City of London saw a 6.2% quarterly drop in homes finding buyers, while Gloucestershire registered a 2.9% decline. In contrast, the wider Greater London area saw demand rise by 3.6% per quarter on average.
“Stability has been key in tempting buyers back into the fold over the last year, and it’s clear that with interest rates stabilising and then falling, the resulting improvements to mortgage affordability has helped to drive the market forward," said Benham and Reeves director, Marc von Grundherr. "In fact, all but two counties have seen the number of homes securing a buyer trend upwards over the last year and, with interest rates forecast to fall again, we expect buyer activity will only continue to strengthen over the course of the year, which in turn will continue to cultivate house price growth.”
