Stockport has been revealed as the UK’s fastest growing property market according to records of RICS home surveys collated by digital conveyancing platform, Property Inspect.
Using data from RICS inspectors, the platform found that Stockport has seen the number of home surveys carried out to August 2021 increase by more than five times on the 2020 total, from just 311 inspections in 2020 to 1887 so far in 2021, a 506.75% change.
Stockport has benefited from a significant boost to the property market during the coronavirus pandemic, thanks to the stamp duty holiday incentivising quick moves, and lockdown leading to many buyers putting greater emphasis on both indoor and outdoor space.
According to Property Inspect, other areas of the UK to see a property boom this year include parts of the London commuter belt, such as St Albans in Hertfordshire, Bedfordshire and Aylesbury Vale in Buckinghamshire, as well as more rural parts of the East Midlands, East Anglia and North Wales. The growth in demand for properties in these areas reflects how many house buyers are eschewing city-centre locations for more suburban and rural settings, with larger homes for home offices and greater outdoor space and access to countryside.
The data revealed by Property Inspect also corroborates previous findings from property search portal Rightmove published earlier this year. In February, the company found that Stockport saw the biggest increase in interest of all Greater Manchester boroughs compared to 2020 based on search volumes across the Rightmove website and app.
Continued interest in Stockport’s property market will come as good news to the numerous ongoing residential developments in the town centre, and elsewhere around the borough such as at Woodford Garden Village and Poynton’s Copperfields scheme.