With the housing markets expected to reopen in Scotland and Wales in the coming weeks, we’ve taken a look at our data to see the impact that lockdown has had in these countries, and how demand is now rising in anticipation of the market reopening.
What’s happening in Scotland?
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%.
There was 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.
What’s happening in Wales?
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 24th March and 13th 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%.
See how quickly local markets in Scotland and Wales are recovering
Get an early insight into trends in search behaviour in your Postcode Area with the Local Market Indicator, giving you extra insight to support business decisions as lockdown restrictions are eased.