Chichester scores high for number of properties sold last year
A study of property sales has revealed that Chichester had one of the highest numbers of sales in 2020.
Last year broke the record for property prices, with the average value increasing by more than £16,000 compared to 2019, according to specialist mortgage platform Haysto.
Despite early predictions that coronavirus would crash the housing market, it did 'quite the opposite', Haysto said. By October, mortgage approvals had hit a 13 year high and November saw 124,800 transactions completed, 18,000 more than the five-year average.
Haysto has analysed the latest government data to see which towns saw the highest and lowest rate of property purchases in 2020 and which areas saw the biggest increase/decrease compared to 2019.
Chichester saw the fifth highest number of property purchases in 2020, with 319.6 sales per capita.
This city was behind only Huntingdon (403), Pontefract (328), Great Yarmouth (320.1) and Preston (319.7).
Chorley, Doncaster, Bury St Edmunds, Spalding and Bedford completed the top ten.
Portsmouth topped the chart for the fewest property purchases last year, with only 50.9 sales per capita.
Brighton appeared in eighth on that leaderboard, with 83 sales.
Paul Coss, co-founder and specialist mortgage broker at Haysto, said: “The impact of COVID-19 changed the property market in 2020 nationwide. I believe when we come out of lockdown and the economy starts to bounce back, this could be a good year to move or get on the property ladder.
“Next month lenders are due to launch new mortgage deals with more flexible lending criteria to encourage more people to move home.
"It’s much-needed to support those who’ve been impacted by COVID-19 such as furloughed staff, self-employed, or people who’ve seen their credit affected by financial struggles.”