Demand for new homes across the U.K. jumped in the third quarter of 2020, powered largely by stamp duty savings, but the country’s capital city of London failed to capture the hearts of potential buyers, according to a report Monday from estate agent comparison site GetAgent.co.uk.
At 51%, current levels of buyer demand are at their highest point since early 2019 and are up 9% on the same time last year and 8% on the last quarter.
The metric is measured as the proportion of stock listed as sold, subject to contract or under offer, as a percentage of all stock listed for sale, according to the report.
“The meteoric uplift in U.K. homebuyer demand in the third quarter of this year demonstrates a market that has well and truly bounced back from pandemic paralysis,” Colby Short, founder and CEO of GetAgent.co.uk, said in the report.
“An 8.5% quarterly increase