Skip navigation

Gloucestershire Business News

Properties selling at rapid rate since lockdown

Properties are selling quicker as the market deals with pent-up demand following the coronavirus lockdown, according to new research.

Property website Zoopla said three-bedroom homes have been selling in 24 days over the last three months - 12 days quicker than the same time last year.

Even the slowest selling properties - one-bedroom flats - are quicker than normal at 34 days.

Since the market reopened in phases across the UK since the start of June, Zoopla said agreed sales were 76 per cent higher than the five-year average.

Zoopla said: "Buyer appetite has been widely attributed to pent-up demand resulting from lockdown, but it also reflects the impact on the nation as it collectively reassesses what it wants and needs from a home.

"Quarantine has galvanised many homeowners and renters into reconsidering their housing requirements, resulting in demand for more space and changing work and commuting patterns."

Rival website Rightmove last week said July was the biggest month of sales in a decade with £37billion, helped by Chancellor Rishi Sunak's cut in Stamp Duty.

James Birt, managing director of Gloucestershire-based estate agents Naylor Powell, said: "We have seen a significant increase in activity and sales agreed across our four Gloucestershire offices.

"We are being invited to value almost a third more properties than we were this time last year.

"Sales being agreed for June and July is approximately 20 per cent higher than the same period last year."

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 25 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 25

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Marketing Gloucester report passed on to police Image

Marketing Gloucester report passed on to police

The leader of Gloucester City Council has confirmed a report into the financial collapse of Gloucester Marketing has been referred to Gloucestershire police.

Gloucester construction company on track to deliver 258,000sq ft Silverstone Park Image

Gloucester construction company on track to deliver 258,000sq ft Silverstone Park

An enterprise zone development being built by Barnwood Construction is due to be completed by its December deadline.

Council agrees delayed plan for next four years Image

Council agrees delayed plan for next four years

Cotswold District Council has approved its key objectives over the next four years after its agreement was delayed and updated due to the onset of the coronavirus pandemic.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.