IT MIGHT not feel like it, but according to new data, homebuyer demand in Berkshire fell in the first quarter of the year – but it was only a marginal reduction compared to other parts of the country.
The latest Homebuyer Hotspots Demand Index by the estate agent comparison site, GetAgent.co.uk, has found a 1.8% drop following the final curtain for the stamp duty holiday in the final quarter of 2021.
The Index monitors homebuyer demand across England on a quarterly basis.
Current demand is based on the proportion of stock listed as either sold subject to contract or under offer as a percentage of all stock listed for sale. So, if 100 homes are listed and 50 are already sold, the demand score would be 50%.
Across England, average homebuyer demand for the first quarter of 2022, sat at 64.3%, down -1.4% on the previous quarter when the stamp duty holiday finally finished.
Greater London seeing the largest decline at -5.8%. East Sussex (-3.9%), Devon (-3.8%), Surrey (-3.6%) and Cornwall (-3.5%) were among those areas to see the largest correction in buyer demand levels in 2022.
Bristol remains the hottest spot of the market for current demand, with 79.6% of all homes already sold or under offer. Berkshire has 62% of homes sold or under offer, a drop of just -1.8% on the previous quarter.
Founder and CEO of GetAgent.co.uk, Colby Short, said: “The stamp duty holiday spurred an unprecedented level of market activity which has been sustained for the duration of the scheme and it’s fair to say we’re still seeing the market perform extremely well now, despite the final deadline coming in December of last year.
“Of course, there was always likely to be some level of natural readjustment and that’s what we’re seeing here, with a slight decline in demand levels during the first three months of this year.
“However, we expect to see a sustained level of market activity throughout 2022, even with the escalating cost of living and increasing interest rates. So there’s a very good chance that demand will remain consistent and even rebound as the year goes on.”
