By Property experts at WeBuyAnyHome have analysed the impact that the coronavirus crisis had on the industry by comparing sales inquiries figures from January to May 2019 to the same period in 2020.
The study puts in perspective how each location has seen house sales inquiries change with the level of Covid-19 cases registered in the area.
UK house sales demand has fallen by 33% compared to last year’s figures. With 76.5% less house sales inquiries, Northern Ireland’s housing market has been the most affected by the pandemic.
House sales inquiries decrease in the UK:
(comparing sales figures from January to May 2019 to the same period in 2020)
| Country | Total change (%) |
| Scotland | -12.09% |
| England | -33.91% |
| Wales | -35.95% |
| Northern Ireland | -76.54% |
UK locations with the highest decrease in house sales inquiries:
|
County |
House Sales change |
Coronavirus cases |
|
|
1 |
Dundee |
-100.00% |
High |
|
2 |
Tyrone |
-100.00% |
Medium |
|
3 |
Fermanagh |
-91.67% |
Medium |
|
4 |
Londonderry |
-79.17% |
Low |
|
5 |
Down |
-74.29% |
Low |
|
6 |
Antrim |
-74.07% |
Low |
|
7 |
Armagh |
-70.00% |
High |
|
8 |
Shetland Isles |
-60.00% |
Low |
|
9 |
Northumberland |
-56.64% |
High |
|
10 |
Norfolk |
-51.46% |
Medium |
Edinburgh is among the locations that registered an increment with 27% more sales inquiries during January – May 2020 compared to the same period in 2019. Overall Scotland shows more hopeful figures than the rest of the UK, with only 12% decrease in house sales demand compared to last year and most of the regions with an increase in house sales inquiries located there.
UK locations with an increase in house sales inquiries:
|
County |
House Sales change |
Coronavirus cases |
|
|
1 |
Clackmannanshire |
112.50% |
Medium |
|
2 |
Stirlingshire |
100.00% |
Low |
|
3 |
Edinburgh |
27.27% |
Medium |
|
4 |
Dunbartonshire |
26.32% |
High |
|
5 |
Isle of Wight |
21.21% |
Medium |
|
6 |
Renfrewshire |
13.04% |
Medium |
|
7 |
Angus |
11.76% |
Medium |
|
8 |
West Lothian |
5.00% |
Medium |
The study also drills down further into house sellers demographics. A general overview of the UK shows that ‘Early Stage Families’ and ‘Supported Families’ type of sellers decreased compared to last year.
UK house sellers demographics change:
(comparing sales figures from January to May 2019 to the same period in 2020)
Type of sellers that increased:
- Affluent Establishing Families | 33%
- Crossroads Older Families | 33%
- Middle Of The Road Families | 24%
Type of sellers that decreased:
- Affluent Early Stage Families | -48%
- Supported Families | -42%
- Well Off Adults | -27%
Mark Irwin, Marketing Director at WeBuyAnyHome stated:
“The property market, indeed the economy as a whole, has never seen anything like this before – any person making claims to know what will happen next and when, would likely be using guesswork as much as the layman would.”
“However, interpreting these figures, we might expect the current “bubble” to last until November, with economic struggles then causing a drop in values by approx. 25%, with it felt more acutely in lower value properties that don’t benefit from the stamp duty reduction, and as they tend to belong to lower paid workers who may be more susceptible to job losses and sadly being forced to sell. That is our current working assumption, but things are changing all the time.”
For further information on how Coronavirus has affected the property market visit the tool by WeBuyAnyHome.
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