Scotland's property market continues to go from strength to strength with two of its major cities found to be among the best places in the UK to currently sell a home.
Article taken from Property Reporter Online
The latest research by estate and letting agency group, Lomond, has revealed that when it comes to the current home-selling hotspots within the British property market, Glasgow, Edinburgh and Leeds top the table.
Lomond analysed Gov data on property market transactions at the local authority level, looking at which markets have posted the strongest performance over the last six months based on the average monthly number of homes sold.
The research shows that Glasgow tops the table with an impressive 928 homes sold per month on average over the last six months.
The Scottish capital isn’t far behind, with Edinburgh seeing an average of 849 property sales per month, while Leeds ranks third with 665 transactions per month, making the city the busiest spot in England for current market activity.
North Yorkshire also ranks high, with 656 property sales completing on average every month, while Birmingham completes the top five with 603 sales per month.
Other areas to make the top 10 include Fife (565), Cornwall (554), South Lanarkshire (549), Somerset (528) and County Durham (497).
The City of London has seen the lowest level of market activity over the last six months with just 12 homes sold on average each month, whilst the Shetland Islands (20), the Western Isles (26) and Orkney Islands (31) have also seen some of the lowest sales volumes. Although it’s important to note that geographically these markets are far smaller than most which no doubt influences market activity levels.
Rutland also ranks within the top five areas to have seen the lowest level of sales over the last six months, with just 39 homes sold on average each month.
Lomond CEO, Ed Phillips, commented: “The Scottish market has performed very strongly of late, but it’s not the only area of the nation that has seen a robust level of market activity over the last six months with Yorkshire, the West Midlands the South West and North East all home to a top 10 hotspot in this respect.
"So while the overarching view of current market health may be one of cautious optimism, it’s always important to know how your local market is performing and whether or not it's going against the national grain.
"This will help you get a good idea as to how quickly your home might sell and what sort of price it will achieve. The help of a good local agent will help in this respect, as they will have a far better view of local market conditions than any topline house price report will give you.”
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