Skipton International are encouraging people not to read these figures as an accurate reflection of the current market as statistics will have been affected by the recent Covid-19 lockdown period.
Lorraine Mclean, Mortgage Sales Manager at Skipton International, said: “During the lockdown there was very little activity taking place, but since restrictions have been lifted, we have had a lot of interest for our mortgages once more. I would be surprised if the next quarter’s report doesn’t see a resurgence in transactions and property prices increase further.
“The 31% drop in activity in the last quarter will have resulted from the period when the market was effectively closed, but we are still certainly experiencing a lot of demand from home buyers and are open to business”.
The report showed that one-bedroom flats dropped in value by 1% and three bedroom houses by 2% with all other property types increasing in average price. The average price of homes was 1% higher than the first quarter of the year with 2-bedroom homes reaching the highest mean price recorded at £439,000.