The latest data and analysis from Zoopla has revealed that there has been a notable spike in buyer demand during the last 12 months for one North West city.
According to the stats, the property portal delivered 59% more sales leads to its agent clients here over the last 12 months, crowning Preston as the location with the highest increase in buyer demand year on year across the UK.
The income required to purchase a home in Preston is currently sitting at £10,000, this is just 39% of the income needed to purchase a property across the UK as a whole. This affordability is attracting buyers at all stages of the housing ladder to this market.
Zoopla also sent 58% more valuation leads to estate agents in Preston over the last 12 months, indicating that homeowners are looking to take advantage of this increased buyer demand. Transactions are also up by 8% over the same time period. On average, estate agents here achieve 93% of a property’s listing price and take 13.5 weeks to sell a home in this Lancashire based city.
Emma Roberts, Managing Director of Roberts & Co, commented: “Preston is growing in popularity. The market is healthy here as whether you’re a family looking to be near good schools, which Preston has an abundance of, or you’re a first-time buyer on the hunt for a destination with great job opportunities, the city really does have it all. Our clients vary hugely which is a key part of keeping the market healthy and active.
Preston city centre has seen a major influx of investment in the last two to three years, the centre has become more accessible to pedestrians and a number of new shops have opened too. This revitalisation of the high street doesn’t stop at the city centre, we’ve also seen neighbouring suburbs spring back to life with independent cafes, shops and bars opening in Penwortham. This is creating an attractive community vibe which home hunters find attractive.”
Charlie Bryant, Managing Director of Zoopla, commented: “Today’s data shows that pockets of the UK continue to see spikes in buyer interest despite the backdrop of political uncertainty. Our focus on investing in advertising, building new products and revamping our tools is working and consumers are coming to Zoopla in search of their dream home. We are, and will continue to be, committed to delivering value for money for agents by offering real returns for their businesses.”
Zoopla analysed the number of leads it delivers to estate agents in over 370 local authorities to identify the areas of the country currently experiencing the highest increases in buyer demand. The property portal discounted any local authority areas it had seen more than a 20% growth in the number of new branches joining Zoopla to ensure the increase in sales leads purely correlated with an increase in potential buyer leads delivered to its clients.
Estate agency branches in Cardiff received the second highest increase in sales leads from Zoopla, with the property portal generating 58% more sales leads to estate agents here in the last 12 months.
Please see blow the full list of the top five destinations and their sales lead increase this year comapred to last:
1. Preston 59%
2. Cardiff 58%
3. Falkirk 21%
4. Cambridge 20%
5. Barking and Dagenham 19%