News & Legal Updates
Sign up to news & legal updates
I was interested and somewhat surprised to read a report from academics at Lancaster University advising that London is heading for a house price bubble by the end of 2016. The academics used a phrase that I have not heard before describing the London market as “exuberant” and advising that the last time that the Greater London real house prices were identified to be in an exuberant phase was the fourth quarter of 2007. Interestingly speaking to others who are actively involved in the London market they are actually concerned about a crash and the bubble bursting. They cite the increase in Stamp Duty to crippling levels.
What impact does this have for the rest of us? In discussions with an expert on the Scottish Property scene he described his feelings for the Scottish Property market as like “corrugated iron” – lots of little ups and downs. I personally have some real concerns that the general economic backdrop is not good and that the property market will soon be entering stormy waters caused by economic uncertainty, declining bank lending and also tax changes. I think the Government needs to do all it can to support the property market and I will be the first one to report on an “exuberant” Scottish Property Market!
Partner – Head of Property
The opinions expressed in this site are of the author(s) only and do not necessarily represent the opinions of Blackadders LLP.
Blackadders takes all reasonable steps to ensure that the content of this site is accurate and up to date. The site is not, however, intended as a substitute for seeking legal or other professional advice but rather as an informative guide to the services provided by Blackadders and topical legal developments. Site visitors should always seek advice tailored to their specific situation. Consequently, Blackadders accepts no responsibility for any loss or damage suffered by anyone acting or failing to act on the basis of information contained on this site. Downloading of material contained on this site is at the user’s own risk and all necessary virus checks must first be carried out by the user. Blackadders is not responsible for the material found on any web sites linked to this one and links to this site may only be made with Blackadders prior consent.
Blackadders owns the copyright in this blog and all material contained on it. The material on this site may be downloaded for personal use only and must not be altered. Otherwise, Blackadders’ written consent is required before any material on this site is reproduced, copied or transmitted in any way.
Information passed to us via this site is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.
© Blackadders LLP 2021
Members of the Law Society of Scotland.
Blackadders Solicitors is a trading name of Blackadders LLP, a limited liability partnership, registered in Scotland No SO301600 whose registered office is 30 & 34 Reform Street, Dundee, DD1 1RJ. Reference to a ‘partner’ is to a member of Blackadders LLP.Back to News & Legal Updates