Landmark Information Group Q1 Property Trends Report Scotland
Scottish property market stabilises as supply pressures ease, according to analysis of data in Landmark’s Q1 Property Trends Report.
Landmark Information Group’s latest market data shows the Scottish housing market is bouncing back to 2019 levels, following a year of emergency Covid restrictions and insufficient supply. The newly-released Q1 Property Trends Report Scotland paints a positive picture for home-movers as supply pressures ease.
The report, which uses Landmark’s data to reflect on market activity during January, February and March of 2022, shows that whilst supply remained a challenge at the start of the year, pressure is now starting to be released as Covid-19 restrictions lift, although these have continued longer in Scotland than south of the border.
The increased consumer confidence and return to normality is reflected in the transaction pipeline, with completions exceeding 2019 levels by 11% in February as transactions for sales agreed in Q4 2021 concluded.
Key findings from the report:
- Completions:Completions exceeded 2019 levels by 11% in February as transactions for sales agreed in Q4 2021 concluded.
- Listings data relative to 2019:Market listings remained below 2019 rates for the same quarter but recovered well in March, ending just shy of March 2019 volumes (-3%).
- Registered Sales:Registered sales also peaked in February (+23% compared with 2019) in line with completions.
Landmark CEO Simon Brown said:
“As we analyse the data from the first quarter of 2022, it’s encouraging to see the beginnings of a calmer, and crucially, more consistent market as Covid-19 restrictions finally lift for the Scottish market.
“Despite the hopeful signs, the broader factors – from the burgeoning cost-of-living crisis to geopolitical instability – are yet to fully play out. This makes it ever-more crucial that the industry is able to evolve and adapt to external shocks, to minimize the impact on home-movers.”
Kindly shared by Landmark Information Group
Main article photo courtesy of Pixabay
