In Brentwood’s CM15 postcode, house prices soared by 22pc to £448,780. This was the largest price jump in the top 10 commuter postcodes for transaction growth.
Tara Tresadern, of William H Brown estate agents in Brentwood, said: “I’ve been an estate agent for more than 20 years and I have never known a market like this before. We have had a record year.”
Half of purchasers have moved from the capital, primarily from east London, Enfield and Ilford. Before the pandemic, the share was only 30pc, she said. “There are a lot of young professionals, who because of Covid have realised they don’t need to be in London as much.”
The stamp duty holiday announced in July 2020 was a key driver, but demand has remained strong since it ended in September, said Ms Tresadern. Most listings receive 15 to 20 viewings, she said. A house in Pilgrims Hatch, a suburb to the north of Brentwood, just sold at auction for £385,000, 25pc over its reserve.