Are the Scottish and Welsh markets open?

The property market has been open again since 13th May in England, but up until now both Scotland and Wales have been closed.

Over the past few days, however, we’ve had some news on both of these markets.

The Scottish government has confirmed that restrictions on home moves in Scotland will be eased from Monday 29^th June.

This means that home-movers in Scotland will soon be able to visit estate agents and letting agents once again.

You’ll also be able to view residential properties – under strict social distancing guidelines – and buyers and renters alike can move in to new homes.

What’s the latest on the Scottish market?

Since the housing market closed in Scotland new listings for sale have dropped by more than 90% and new properties to rent have dropped to a lesser extent, by 40%.

We’ve also seen:

• A noticeable uplift in people enquiring about properties in Scotland after the market opened in England
• Sales demand in Scotland dropped by 73% between 24th March and 13th May, but is now running at just 20% down
• Rental demand dropped by 50% compared to last year but is now actually up 15% on last year, in anticipation of the Scottish housing market being able to reopen

The Scottish government’s announcement also clarified that, in line with the relaxation of house moves on 29^th June, travel to a second home for essential maintenance would be possible.

What’s the latest with the Welsh market?

The housing market in Wales partially reopened on Monday 22nd June, with home viewings in empty properties given the green light. House moves where a sale had been agreed but not yet completed prior to the coronavirus outbreak can now also go ahead.

Here’s what we’ve seen since the housing market closed in Wales:

• New listings for sale have dropped by 80% and new properties to rent have dropped by 46%
• The reopening of the market in England has ignited some Welsh buyers to start enquiring. Sales demand dropped by 67% between 24^th March and 13^th May, but is now running at 2% up on last year
• Rental demand dropped by almost 40% compared to last year and is now up 36%

For more information on the Scottish government’s announcement, click here.

For more information on the Welsh government’s announcement, click here.