Housing supply

Bexhill tops list of UK housing supply hotspots

The city saw an 88% increase in new properties for sale in the last week of January compared to the same period in 2021, according to the latest figures from Rightmove. During this period, the average asking price for properties in Bexhill rose by 13% to £342,265, and the average time to find a buyer was 35 days.

High Peak in Derbyshire came second in the list of 10 new supply hotspots with an 82% increase in new sellers coming to market, while Chelmsford in Essex finished third with a 58% increase in properties for sale.

A one-bed property in Cooden Drive, Bexhill, is on the market for £159,950 with Greystones Estate Agents Limited. Image: Zoopla.

There were on average 8% more homes for sale in Britain in January, compared to the same period in 2021, as the supply crisis from the pandemic eased. The South East, East Midlands, South West, Wales and Yorkshire & The Humber all saw increases of 10% or more in the number of new homes for sale.

Rightmove said the new wave of sellers entering the market comes amid continued strong buyer demand through 2022. Total buyer demand is up 35% over the past week compared to the same period last year.

Tim Bannister, director of real estate data at the portal, said: “The market has picked up speed after a busy holiday season, and it’s a really encouraging sign to see more properties starting to come on the market. The increase in new listings, coupled with the higher number of requests from potential sellers to real estate agents to appraise their homes, certainly suggests good news and positive signs that we are heading towards a more balanced market in 2022.

“These new sellers will be welcomed by many enthusiastic buyers, as data shows that the number of requests for homes for sale is even higher than at the same time last year. This means that if the growing number of new homes for sale will be welcome, buyers will face fierce competition for available properties and should act quickly when a property they like comes on the market.

Properties coming to market in Bexhill this month include a one-bedroom flat in Cooden Drive for £159,950, a three-bedroom detached bungalow in Broad View for £484,950 and a five-bedroom detached house in Cowdray Park Road for £625,000.