Scottish and Welsh markets see surge in activity
Restrictions on moving home in Scotland were eased on 29th June, and the market in Wales partially reopened on the 22nd June.
We’ve had a look at what’s happened with activity now that some moves can take place again.
What’s happening in the Scottish market?
When the market reopened on 29th June, the number of buyers phoning and emailing estate agents rose 107% compared with the same week in 2019. Enquiries about rental property are also up 46% compared to this time last year.
In the first seven days since the Scottish property market reopened for business, we’ve also seen a 20% year-on-year increase in the number of new homes listed for sale.
For new rental properties, this number is 5% down on the same period in 2019, though has recovered from being down as much as 50% when the market was closed.
Overall, the amount of sales being agreed in Scotland are now down 13% year-on-year, recovering from being 90% down in April and May.
If you’re looking to buy in Scotland, click here to start your search.
What’s happening in the Welsh market?
The Welsh market partially reopened on 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 have also been able to go ahead over the past two weeks.
During that fortnight, buyer demand has shot up by 80% compared with the corresponding period in 2019, whilst demand among renters has also increased, with a year-on-year rise of 71%.
The number of new sales listings is down 7% compared to the same period last year, and the level of new rental listings is only down 3%.
Sales agreed are also slightly down year-on-year, by 16%, but again this is not surprising given the lengthy market pause during lockdown.
If you’re looking to buy in Wales, click here to start your search.
What do the experts say?
Our property expert Miles Shipside said: “There are positive signs that both the Scottish and Welsh markets are getting moving again as people resume their plans now that their respective lockdowns have been eased. Of course, it’s still early days and home-moves have only just restarted, but the initial numbers we’re seeing should give buyers, sellers and renters confidence that things are looking stable.”
READ MORE: Can I move home now?
