U.K. Demand for Homes Jumps, Though London is Muted

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

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Ex-Zillow CEO Spencer Rascoff jumps back into real estate, launches startup with former colleagues to help people buy second homes

Former Zillow Group CEO Spencer Rascoff and dotloop founder Austin Allison are teaming up on a new startup called Pacaso that aims to make it easier for more people to own a vacation home.



Spencer Rascoff, Austin Allison standing in front of a window: Former Zillow CEO Spencer Rascoff (left) and dotloop founder Austin Allison are teaming up on Pacaso, a new startup that helps people buy second homes. (Pacaso Photos)


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Former Zillow CEO Spencer Rascoff (left) and dotloop founder Austin Allison are teaming up on Pacaso, a new startup that helps people buy second homes. (Pacaso Photos)

“This is an entirely new category of second home ownership,” said Allison, who sold his real estate startup to Zillow in 2015.

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The company came out of stealth mode today, announcing a $17 million seed round led by Seattle venture capital firm Maveron, with participation from Crosscut, Global Founders Capital, and individual investors such as former Starbucks CEO Howard Schultz, real estate coach Tom Ferry, former Zillow executive Greg Schwartz, and Amazon CEO of Consumer Worldwide Jeff Wilke. Pacaso also raised $250 million

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