London took the top spot as the most searched for UK location in 2022 rising by 9% from the previous year, as homebuyer’s interest in living in the capital lifted following the pandemic, according to Rightmove.
Searches for Cornwall and Devon came in second and third, respectively, but both registered less interest than a year ago “as more people looked to make a city move”, says a study by the online estate agent.
The gap between searches for London and Cornwall this year was the biggest since the health crisis started in early 2020, at 36%, compared with just 3% in 2021.
The report says: “During the pandemic, more people were looking for their next home outside of cities, in the countryside or by the coast.
“In several months of 2021, Cornwall replaced London as the most searched for location on Rightmove. This trend has reversed in 2022, as buyer search behaviour returns towards more normal pre-pandemic patterns.”
Searches for London lifted compared with last year, but homebuyers’ interest in Cornwall dropped by 18%, and by 17% in Devon.
It adds: “The increase in searches for London alongside the decrease in searches for Cornwall and Devon indicates that the trend of looking out of the capital, and to the coast or countryside, may be behind us in 2023.”
Livingston in West Lothian, Scotland, was this year’s quickest market – with homes in the area finding a buyer in an average of 15 days.
All of the top five quickest areas to find a seller are in Scotland, with Bo’ness, West Lothian, in second place and Larbert, Stirlingshire, in third.
The small village of Picket Piece, Hampshire, is the quickest market outside of Scotland, with homes taking an average of 16 days to be taken off a seller’s hands.
In the rental market, tenant searches for bills are up 57% compared with this time last year.
The survey says: “The significant increase in searches reflects greater concern from tenants about their energy bills, and increased interest in properties that can include bills within the monthly rent.”
It adds: “This year has seen the most competitive rental market on record.
“At its peak, there were quadruple the number of tenants enquiring about properties to move to, as there were properties to rent.”
Rightmove property expert Tim Bannister says: “This year people searching for their next home have well and truly returned to the capital – we started to see the tide turning towards the end of last year, and throughout 2022 a lot of our trends in the market have started to head back towards where they were in 2019.
“As we head into the festive period, we’re anticipating our traditional boxing day bounce in search activity, where more future home-movers log onto Rightmove after spending Christmas with friends and family, and begin thinking about where they could live next year.
“We’re hearing from agents that they are getting properties ready for sale to go live on Boxing Day, ready to capture the attention of those beginning their search through to the traditionally busier January period.
“We’ve seen a group of people using the past few months to assess their options and consider what they can afford, and they could be spurred on next year should fixed-rate mortgages drop as anticipated.
“Tenants have shown through their search behaviour how appealing a home with bills included could be. Any landlord who is able to offer this added incentive next year, is likely to be met with an orderly queue of ready-to-go tenants to choose from.”