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Revealed: the best school catchment areas in Norfolk
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Number of renters searching for flats in London is up by nearly a fifth compared to January
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Families are escaping to the country and coast, while first-time buyers are returning to cities, according to new data on what buyers want as the property market booms.
It is the latest evidence of shifts in the buyer behaviour amid the coronavirus pandemic and lockdowns, with families chasing suburban, seaside and village life and first-time buyers trying to take advantage of weaker city centre housing markets.
While families tend to be seeking more space at home and outdoors, first-time buyers are looking to set up home in urban areas, a pair of studies from property portals Zoopla and Rightmove show.
Flats making a comeback as home buyer demand for city-centre living jumps
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20
th May 2021 9:39 am
Demand for city centre locations and flats is beginning to return, fuelled by the easing of restrictions and the government’s Mortgage Guarantee Scheme, according to Rightmove.
The property website says that the jump in the number of people contacting agents about its flat listings has been higher than for any other property type, up by 39% since January.
Demand for city centre properties is up by 35% compared to a 32% jump in demand for homes in villages.
The findings are based on analysis of 1.6m property listings.
Average house price growth in city centres has been flat since the start of the year, while prices across the market as a whole have risen by 3.4% during this time, helping to improve the relative affordability of urban properties.