HSPC 2020 Annual Review
The property market saw vast contrasts in 2020. Early in the year the industry had to close due to the Coronavirus outbreak and the latter part of the year saw pent up demand catapulting the market into its busiest time in many years.
The Highland property market from January to the middle of March was on an upward trajectory towards a busy Easter period when the Coronavirus pandemic forced the market to close along with the rest of the country. Only the most essential of sales could proceed between the months of March and June where no physical valuations or viewings could take place. Throughout this time, HSPC experienced a large number of enquiries from people all over the UK with interest in Highland properties. When the Scottish property market reopened at the end of June, our firms had to work extremely hard to accommodate a surge in potential buyers and clients looking to get their properties on the market.
HSPC Key Trends 2020
- The average house price for HSPC properties increased by 9% in 2020 compared to 2019.
- Following the reopening of the property market in the summer, volume of HSPC properties sold increased by 100% in Q3 and a further 71% increase in Q4 compared to previous quarters. Sold property volume in Q4 were also up 21% year on year with a 41% increase in total sold revenue.
- Semi detached villas saw the greatest price increase throughout 2020, up 9% against 2019. Flats and detached bungalows both saw a 4% increase and detached villas saw an increase of 3% year on year.
- December saw our best month for sold volume year on year with an increase of 80% in 2020.
- July (+62%), September (+85%) and December (+60%) saw HSPC’s busiest months for viewing requests and enquiries year on year.
- HSPC’s average sold price versus average asking prices were up 1.6% for 2020 with November being our most successful month with average sold prices up 3.3% compared to asking price.
- Despite a slight drop in website traffic in the first lockdown, we still attracted over 6 million page views across the year.
- Unique users to the website increased by 20% in 2020 compared to 2019.
- July saw our biggest month on month increase in website user session, up 56%.
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