Skip navigation

Gloucestershire Business News

Housing market returns to pre-pandemic levels

Property sales have bounced back close to pre-lockdown levels in most parts of England.

Property website Zoopla says pent-up demand saw a six per cent rise in house prices last week compared to 12 months ago - just days after Nationwide said prices were falling at the fastest rate since the financial crisis.

Sales since the housing market reopened four weeks ago across the South West are 1.7 per cent down on what they were before restrictions were introduced in March with the North West only 0.9 per cent down.

London is bucking the trend at 24.8 per cent lower than the week up to March 8 while the property market in Scotland and Wales remains closed.

Zoopla research director Richard Donnell told the Guardian: "Lower asking prices for homes sold over the lockdown period may drag down indices over May, but this new date suggests house price growth is set to remain positive in the next two months.

"New sales agreed have rebounded and are just 12 per cent short of the levels seen in early March as buyers return to the market and agree to new purchases.

"We have seen the number of new sales agreed rise by 137 per cent since the market reopened."

Related Articles

Pretty as a picture: Investors snap up art gallery Image

Pretty as a picture: Investors snap up art gallery

Move follows administration for 2006 Cotswold business.

EXCLUSIVE:

EXCLUSIVE: "No" to luxury boost for £12m home

Refusal on Cotswold hideaway with illustrious past.

Countryside 'cut off' as rural 3G shut down Image

Countryside 'cut off' as rural 3G shut down

The countryside is being cut off by the mobile phone networks’ switch-off of 3G signal, rural organisations have warned.

Gloucester announces new head of culture and leisure services Image

Gloucester announces new head of culture and leisure services

Louisa Davies has been appointed the new head of culture and leisure services for Gloucester City Council.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.