What Has Happened Since The UK Property Market Came Out Of Lockdown

What Has Happened Since The UK Property Market Came Out Of Lockdown
<a href=”https://pixabay.com/users/FrankWinkler/”>FrankWinkler</a> / Pixabay

This Thursday marks a year since the property market reopened for business having been initially hit with lockdown restrictions.

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The latest research by Ascend Properties has revealed just what’s happened since, both where house price growth and transactions are concerned.

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The Property Market Came Out Of Lockdown A Year Ago – Here’s What’s Happened Since

This Thursday, 13th May, marks one year since the property market in England reopened having been hit with lockdown restrictions, marking the starting point of an incredible return to health.

Ascend Properties has taken a look at which areas of England have seen the biggest boost in property values since then and where the most homes have sold.

House Price Increases

Since May of last year, the North West has seen the highest rate of house price growth at 12.4%, along with Yorkshire and the Humber (10.3%).

Wirral is the area of England to have seen the largest jump in property prices having climbed 26%. Redcar and Cleveland also ranks high with a 25% increase, with Pendle (22%), Selby (20%) and North East Derbyshire (20%) seeing house price growth sit at 20% or higher.

Newark and Sherwood, North Warwickshire and Forest of Dean have all seen house prices climb by 19%, while Copeland and Kirklees also make the top 10 with an 18% jump.

In terms of the largest monetary increase, Islington ranks top with prices up £67,000 since May of last year. Ealing (£53k), Rother (£51k) and Merton (£51k) have also seen prices climb by more than £50,000.

Windsor and Maidenhead (£47k), Bath and North East Somerset (£47k), Stratford-on-Avon (£46k), Cambridge (£46k), Sutton (£45k) and Surrey Heath (£44k) also rank with some of the highest monetary increases in property values in the last year.

Transactions

When it comes to the most homes sold, Leeds has been the homeselling hotspot of England since the market reopened for business. The city has seen 6,556 properties sold, closely followed by Birmingham (6,245) and Cornwall (5,801).

Managing Director of Ascend Properties, Ged McPartlin, commented:

“A year ago, many industry ‘experts’ were calling double digit house price drops and despite the property industry getting the green light to reopen for business, the outlook was uncertain to say the least.

A year on and house prices are hitting record highs with the industry itself buckling under the pressure of extremely high levels of buyer demand.

This monumental return to health has been driven by a number of factors. Firstly, a great deal of pent up demand remained due to Brexit and so there were already a large number of buyers and sellers waiting to transact.

During this time, interest rates have also remained at record lows reducing the cost of borrowing considerably.

Last but certainly not least, the further incentive of a stamp duty saving caused a mad flurry of buyer activity to hit the market and we’re yet to see this subside.

All in all, the market is well and truly back to its best and while a natural easing is expected once the stamp duty holiday does finally expire, this is unlikely to bring any serious detriment where long term health is concerned.”

Table shows the change in house prices since the market reopened in May 2020

Location Average House Price – May 2020 Current Average House Price Change (£) Change (%)
England £247,014 £268,291 £21,277 8.6%
North West £164,082 £184,351 £20,269 12.4%
Yorkshire and The Humber £165,138 £182,220 £17,082 10.3%
East Midlands £195,033 £213,967 £18,933 9.7%
South West £255,385 £279,242 £23,857 9.3%
North East £127,438 £138,370 £10,932 8.6%
West Midlands Region £198,758 £215,451 £16,693 8.4%
South East £320,483 £345,075 £24,592 7.7%
East of England £289,955 £306,346 £16,391 5.7%
London £470,599 £496,269 £25,670 5.5%

House price data sourced from the Land Registry House Price Index – May 2020 to Feb 2021 (latest available data)

Table shows the areas to see the largest % increase in house prices since the market reopened in May 2020

Location Average House Price – May 2020 Current Average House Price Change (£) Change (%)
Wirral £153,371 £193,319 £39,948 26%
Redcar and Cleveland £115,948 £145,198 £29,249 25%
Pendle £101,329 £123,883 £22,554 22%
Selby £201,397 £242,022 £40,625 20%
North East Derbyshire £183,550 £219,482 £35,932 20%
Newark and Sherwood £184,146 £219,918 £35,772 19%
North Warwickshire £205,138 £244,697 £39,559 19%
Forest of Dean £236,231 £279,981 £43,749 19%
Copeland £120,458 £142,211 £21,753 18%
Kirklees £148,137 £174,538 £26,401 18%

House price data sourced from the Land Registry House Price Index – May 2020 to Feb 2021 (latest available data)

Table shows the areas to see the largest £ increase in house prices since the market reopened in May 2020

Location Average House Price – May 2020 Current Average House Price Change (£) Change (%)
Islington £633,792 £700,791 £66,999 11%
Ealing £467,883 £520,674 £52,790 11%
Rother £289,857 £341,200 £51,342 18%
Merton £516,187 £567,098 £50,911 10%
Windsor and Maidenhead £477,122 £524,607 £47,485 10%
Bath and North East Somerset £347,159 £393,883 £46,724 13%
Stratford-on-Avon £299,252 £345,299 £46,047 15%
Cambridge £429,234 £474,824 £45,590 11%
Sutton £371,138 £416,499 £45,361 12%
Surrey Heath £388,279 £432,418 £44,139 11%

House price data sourced from the Land Registry House Price Index – May 2020 to Feb 2021 (latest available data)

Table shows residential property transaction volumes since the market reopened in May 2020

Location Homes sold since May 2020
England 448,763
South East 80,384
North West 61,050
South West 53,657
East of England 53,460
London 47,012
Yorkshire and The Humber 46,306
West Midlands Region 43,212
East Midlands 41,337
North East 22,345

Sales transaction data sourced form Gov.uk

Table shows the areas with the most residential property transaction since May 2020

Location Homes sold since May 2020
Leeds 6,556
Birmingham 6,245
Cornwall 5,801
County Durham 4,538
Wiltshire 4,382
Cheshire East 4,267
Bournemouth Christchurch and Poole 4,145
Dorset 4,072
Bradford 4,071
Sheffield 3,813

Sales transaction data sourced form Gov.uk


  • Regular rental market prices sourced from the ONS – Private rental market summary statistics
  • Build to Rent rental market data sourced from Ascend Properties
  • Ascend is a leading nationwide Build to Rent specialist.
  • Founded in 2014, the company has won numerous awards due to its professionalism and exceptional customer service.
  • Ascend was named Best Letting Agent in the North West at the ESTAS Awards for four consecutive years and has won more than 65 allAgents Awards.
  • The company has experienced tremendous annual growth, reporting consistently high increases in turnover year-on-year.

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