Despite early reports predicting coronavirus would crash the housing market, it did quite the opposite. 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.
Specialist mortgage platform 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.
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Huntingdon, Cambridgeshire saw the biggest number of property purchases in 2020 with over 400 per capita.
Pontefract followed in second place, with over 328 property sales per capita.
Great Yarmouth (320.1), Preston (319.7) and Chichester (319.7) complete the top five towns with the highest number of property purchases per capita in 2020.
With Doncaster coming in at number seven with 295.4 property sales per capita.
Paul Coss, Co-Founder and Specialist Mortgage Broker at Haysto commented: “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.”