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A Strong Autumn Housing Market Posted: 19th August 2021

According to the latest Rightmove Data, although asking prices are starting to stabalise and in some areas even fall, experts are predicting a strong autumn housing market as demand continues to outstrip supply.

In July, asking prices across the UK fell for the first time this year as it see a cooling of the higher end of the market.

Here in Scotland asking prices have risen by 2.1% but we are seeing that this is still higher in East Renfrewshire. According to Rightmove, sold prices in East Renfrewshire over the last year were 8% up on the previous year and 8% up on the 2018 peak of £261,244.

Average asking prices are still 5.6% higher than they were a year ago across the UK – this is down on the 5.7% increase the previous month.
Analysis from Rightmove shows that average house prices have fallen in the upper end of the market.

As a result of the pandemic, many buyers have been seeking property with more outside space, and recent figures from Halifax suggest that the price of a detached house has risen by around £46,000 in a year.

The number of homes listed for sale is still at a record low – with steep competition for each home available, driving up the price.
At the lower end of the market, first time buyers and second steppers are seeing slower rates of growth with the average asking price rising by 3.7% in the past few weeks. For those buying their second property, the price has risen by 6.6% in the last year.

Rightmove is predicting an ‘autumn bounce’ in both seller activity and property prices in the coming months making it highly likely that you will find a buyer when selling your home – with the time to sell fastest here in Scotland.

Rightmove also anticipates that more property will come to market when future when owners have a better idea of their situation with regards to employment and whether they will to continue to work from home full or part time.

Talk to us at Nicol Estate Agents if you are interesting in finding out more about the property market in East Renfrewshire.

Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.