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TwentyCi: Five-bed homes most desirable post COVID-19

Jake Carter

January 21, 2021

stamp duty

Detached five-bed properties are the most desirable residences in the UK post COVID-19, according to TwentyCi.

The data shows that the most sought after properties are worth in the region of £375,000, based in the East or South East of England.

Properties in the East and South East of England have experienced the highest year-on-year increase in sales agreed, up 21% and 20% respectively.

In general, sales agreed numbers were up 10% in 2020 on 2019.

House prices across the UK have also risen with the average asking price now standing at £375,000 compared to £347,000 in 201, an increase of 8%.

On a regional basis, the midlands have experienced the highest surge in asking prices seeing a 12% rise.

Conversely, inner London recorded the lowest increase at just 2% in 2020.

Furthermore, over 1.5 million UK households are currently either in the moving process, have moved or are keen to do so, up near 20% on 2019.

The data also shows that there are 550,000 property sales agreed, which is up 10% year-on-year.

New instructions in 2020 remained level at 1.6 million.

Exchanges are currently down by 5%, price changes dropped 17%, and withdrawals fell 9% in comparison to 2019.

Colin Bradshaw, chief customer officer of TwentyCi, said: “The data clearly shows that COVID-19 has impacted our residential tastes.

“Where once Inner London was considered desirable, now larger, more rural properties are sought after.

“The stamp duty holiday continues to encourage movement in the market and those at the beginning of the homemover journey will be racing to complete the conveyancy process before the holiday comes to an end in March.

“Maintaining this momentum will be critical for both the economy in general and for businesses that attract the huge spend made by people moving home.”


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