Demand exceeds supply in the Scottish property market – Show House

The second edition of Scotland Property Trends Report, as published by Landmarks Information Group, identified that the residential real estate sector has become more closely aligned with pre-pandemic 2019 volumes, but a continued lack of new listings could put pressure on available real estate inventory levels and house prices. .

Inter-market trend analysis for the Scotland residential property market pipeline covers account transaction movements from the estate agency to the legal cession sectors. The latest edition assesses market trends in the fourth quarter of 2021 compared to 2019 and provides a truly unified view of the Scottish property market.

The report confirms that single survey instruction volumes decreased 14% in October 2021 and 4% in December 2021, compared to the same months in 2019, while November data was consistent with ‘two years ago. It should be noted, however, that volumes in November 2019 were lower than normal due to the general elections and discussions on the Brexit withdrawal agreement between the UK and the EU, which led to conditions of the unusually sluggish Scottish property market.

Main findings

Property Lists:

Demand continued to outpace supply with unique investigation volumes on average down 8% in the 12 months of 2021 compared to 2019 data. Between October and December 2021, unique investigation instructions declined by an average of 6% compared to pre-pandemic figures from October to December 2019. Overall, there was some improvement in the second half of 2021 with volumes down by 4% on average. %, but that still means there was less housing available on the open market at the end of the year.

Sold subject to missives:

Sold Items Missives activity levels between October and December are on average up 4% from 2019 volumes. The data is more reflective of pre-pandemic statistics as the market presented a more stabilized picture in the second half of 2021 .


The last quarter of 2021 saw completions closely matching 2019 data, just 2% lower, on average, than pre-pandemic numbers. Over the year, completions fluctuated, with the end of each quarter ending on a high: 13%, 14% and 18% up in March, June and September, while December only increased by 1 % over 2019 data, with a more stable picture emerging at the end of the year.

Recorded sales:

While the Covid-19 emergency measures impacted registration patterns in the first half of 2021, we can see data from Scotland registers for the third quarter shows a 10% increase in volumes in average compared to 2019. For the last quarter of 2021, October volumes were slightly lower than 2019 at 3% decline, while November jumped 21% higher than the same period of 2019, at the start of the Christmas rush. December data has not yet been released.

Richard Hepburn, managing director of Millar & Bryce, an Edinburgh-based business of Landmark Information Group, said: “It’s really interesting to look at the trends for 2021 and see that overall the market has started to return to more “anticipated” levels. , following market volatility impacted by Covid 2020 and early 2021. Sold subject to missives, completions and recorded sales all ended the year up on pre-pandemic trends; the only exception to this is for new listings, where overall we have seen a reduction in supply.

“Agents will work hard in early 2022 to demonstrate the benefits of the ‘seller’s market’ and higher property values ​​we are currently seeing to encourage more people to market their homes, creating more certainty for 2022.”

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Penny D. Jackson