Bexhill tops list of UK housing supply hotspots

Bexhill has been named as the UK’s number one housing supply hotspot, with the number of properties going on the market nearly double that of last year.
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The town saw an 88% increase in new properties for sale in the last week of January compared with the same period in 2021, according to the latest figures from Rightmove. Over this time, the average asking price for properties in Bexhill rose 13% to £342,265, and the average time to find a buyer was 35 days.

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

A one-bed property in Cooden Drive, Bexhill, is on the market for £159,950 with Greystones Estate Agents Limited. Picture: Zoopla.A one-bed property in Cooden Drive, Bexhill, is on the market for £159,950 with Greystones Estate Agents Limited. Picture: Zoopla.
A one-bed property in Cooden Drive, Bexhill, is on the market for £159,950 with Greystones Estate Agents Limited. Picture: Zoopla.
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There was an average of 8% more homes for sale in Britain this January, compared with the same time in 2021, as the supply crisis of the pandemic eased. The South East, East Midlands, South West, Wales and Yorkshire & The Humber all recorded an increase of 10% or more in new homes for sale.

Rightmove said the new wave of sellers coming to market was set against a backdrop of continuing high buyer demand into 2022. Total buyer demand is up 35% within the last week compared to the same period last year.

Tim Bannister, the portal’s director of property data, said: “The market has picked up pace after a busy festive period, and it’s a really encouraging sign to see more properties start to come to market for sale. More new listings, coupled with the higher number of requests from prospective sellers to estate agents to value their home we are seeing, certainly suggests good news and positive signs we are moving towards a better balanced market in 2022.

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“These new sellers will be met by plenty of eager buyers, as the data shows the number of enquiries for homes for sale is even higher than this time last year. This means that while rising numbers of new homes for sale will be very welcome, buyers will face stiff competition for available properties, and should act fast when a property they like comes onto the market.”

Properties arriving on the 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.