• Kieran

CA Ask For More To Be Done To Help Welsh Property Market

The Conveyancing Association (CA), has urged the Welsh Government to go ‘further’ and ‘faster’ in opening up its housing market.

Last Friday, the Welsh Government announced a partial reopening of the housing market in Wales from the 22 June meaning:

  • All house moves can go ahead where the residential property has been unoccupied i.e. vacant for at least 72 hours.

  • House moves can take place where a sale has been agreed but not yet completed.

  • The marketing and viewing of unoccupied residential property can take place.

  • Valuations and inspections of occupied residential property are allowed but should be done so safely and in line with the Welsh Government’s guidance on working in someone’s home.

However, the CA believes this does not go far enough, as the Welsh Government has specifically said house moves where the residential property is occupied are still not able to go ahead. Estate agents are able to market these properties but are only allowed to carry out virtual viewings.

The Welsh Government said a further review of the situation will take place in three weeks, which the CA argues would mean the Welsh property market was a full two months behind England and mean a significant and ongoing impact on Welsh property businesses, particularly conveyancing firms and estate agents only active in Wales.

The CA says, that with the English market now functioning well, and with protocols and Guidance in place to ensure the safety of all property market participants including those in occupied properties, there is no reason why the Welsh Government cannot follow suit.

Recent figures from TwentyCi, the homebuying 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% on 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. read more

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