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Lanarkshire Property Market Report June 2022

Posted in   Aug 31 , 2023

The school summer holidays are upon us and the increased presence of the entire family at home makes many people start to think about whether their current home is still suitable for their needs. For example, you may discover that you need more space now your children are bigger or perhaps you would like a bigger garden for when your grandchildren visit. Perhaps you would prefer to live somewhere quieter now your own children are grown.

If you are thinking about moving, be aware that if you want to be settled into your new home in time for Christmas, you need to be considering putting your property on the market now. It takes between four to eight weeks to purchase a property in Scotland. However, add to that the time it takes to get your property ready to go on the market, perfect the marketing, show people around, and negotiate an offer, and you can see why you need to get on with it now in order to allow yourself to be settled in by Christmas.

Let's have a brief look at what's been happening over the last month in the local property market around Lanarkshire.

There are currently 200 properties available on the market in the area. The month prior there were 188. This suggests properties are not selling with quite the speed they were last month. However, there were 116 new properties that came to the market in May. In June, there were 130. This could explain the reason for the higher number of available properties as there were more to choose from.

In June, 125 sales were agreed. The month before, 107 sales were agreed. These figures are what we would expect to see considering the different numbers available on the market in both months. The number of price reductions doubled May to June. 

There are 17 slow movers on the market in the Lanarkshire area. This means a property that has been on the market for 12 weeks or more. In May, there were 21 so some of those properties have either sold now or come off the market. 

A slow mover can happen because of several reasons. For example, poor presentation of the property - either internally or the photos/video, reliance on one marketing channel, or it can be because the price isn't correct for the current market.

In May, each property in the Lanarkshire area had average daily views on Rightmove per property of 244. This is the average of the top ten agents in the area. Some agents are only averaging 79 per property per day. It really can make a difference to your chances of selling your home by choosing the right agent. Our average daily views in June were 310, which we are so pleased about for our clients. 

Read more about how to choose the right estate agent in Lanarkshire for your home and your circumstances here.

The market has slowed a little, and there are suggestions that it may slow further so now is the time to sell, especially if you wish to be in your new home before Christmas.

If you're looking for further information about the Lanarkshire property market, or if you're thinking of selling or buying in the area, please don't hesitate to get in touch. You can call 01698 441327 or email sales@lanarkshireestateagents.co.uk.

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