THE coronavirus lockdown led to a “pent-up demand” for houses which has translated into an “exceptionally busy” time as restrictions begin to ease, an Edinburgh-based property company has said.

ESPC reported “exceptionally high levels of property market activity”, saying that there have been lots of homes coming to market and competition is high, with properties selling well.

Paul Hilton, the CEO of the company which also runs the Edinburgh Property Information Centre, said: “Our agents have reported being exceptionally busy throughout July 2020, with significant demand to buy and sell property across all areas.

“We have also noted significant year-on-year increases in viewing and valuation requests, homes coming to market and the number of homes being placed under offer.”

The number of homes listed on ESPC during July 2020 increased by 42% compared to July 2019, with the average asking price having risen by around 10%, from £224,716 in 2019 to £249,569 today.

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ESPC also said it had received the highest number of property valuation requests on record last month, up by 80% compared to the previous year.

Hilton added: “It is encouraging to see property market activity exceed levels of last year and the months before Covid-19. This suggests strong demand to buy and sell property in Scotland.

“Our agents are also reporting that properties are generally selling very well, for above the Home Report valuation in many cases.

“We are still in the early stages of emerging from lockdown and there is still uncertainty surrounding the economy, which could, in turn, impact the property market in the coming months.

“ESPC will continue to monitor market activity in order to provide updates and useful information to the public.”