There has been some good news for those wanting to buy a house in Wales as the Welsh Government has begun to open up the housing market there, but there have been calls from some quarters to speed up the process and bring it more in line with current practices in England.
The Conveyancing Association has made fresh calls to the government to go ‘further’ and ‘faster’ in order to get the market moving again.
Last week the Welsh Government announced that from June 22nd there would be a partial reopening of the housing market, but there are restrictions still in place.
Under the new guidelines, all house moves can now go ahead where the residential property has been unoccupied for at least 72 hours. House moves can also take place where a sale has been agreed but not yet completed.
The marketing and viewing of unoccupied residential property can now go ahead and valuations and inspections of occupied property can resume but must follow the government’s guidelines on safe working practices. However, house moves where the property is occupied are not able to go ahead. These properties are able to be marketed, but estate agents are only able to carry out virtual viewings. This makes buying a house in Wales a more difficult prospect than those looking to buy over the border in England.
The Welsh Government has said that it will review the situation again in three weeks, this will put the property market a full two months behind England and may have a significant impact on property businesses only active in Wales.
Recent figures from TwentyCi, the home buying marketing and behaviour agency, for the English property market show levels of new instructions and properties sold subject to contract (SSTC) both well in advance of 2019 norms. In the third week of June, both were up by 15% in 2019 with 36,793 new property listings and 29,383 SSTC cases.
By contrast, the Welsh housing market is running at far below its 2019 norm. Again, TwentyCi data reveals that, for the first three weeks of June, new instructions of 2,387 meant they were 40% down on the same period in 2019, while SSTC were 51% down at 1,337.
The housing market is reopening, albeit at a slower pace than many would like. If you are thinking of buying a house in Wales, you can do so if the property is unoccupied. Virtual viewings will give you a good idea of what is coming onto the market and will allow you shortlist properties you want to view as soon as the situation in Wales allows.
If you are considering buying a house in Wales, then a survey on your new property could save you thousands in unwanted repairs or put you in a strong position to renegotiate the asking price.
Having a survey done by a qualified, independent RICS surveyor will give you peace of mind that you are making an informed decision. Avery & Co. cover North Wales and are able to provide a range of surveys and valuations to suit your needs. We are fully qualified and registered with RICs and have local knowledge of the area. If you would like to find out more about how we can help with all of your survey and valuation needs, please do give us a call on . 0330 088 5040 for a no obligation chat, or complete our simple enquiry form and we will get back to you
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