News & Legal Updates
Sign up to news & legal updates
I thought you would be interested to hear my feelings in relation to the first quarter of 2017 as far as the property market is concerned. Whilst there was an uplift in March compared to February’s figures, this is not a consistent uplift across the country, with some areas being higher than 2016 and some areas being lower. I expect, once I see official figures, that overall the numbers will be down by approximately 10%. Most common mantra I am hearing in relation to my residential business, is that “I’m not putting my house on the market until I see somewhere that I want to buy”. I’m noticing an increase in relation to the number of people deciding to stay put and carry out the extension/alteration to their existing property. This lack of activity appears to have been caused by an increase in uncertainty due to the global, European and Scottish issues that are dominating the press. Interestingly, I am already hearing of a couple of commercial developers who have decided against investing in Scotland due to uncertainty caused by Indy2.
The lack of stock is very much causing an increase in prices with the number of closing dates increasing and the right properties in the right areas achieving far in excess of the expected price. I do not think that this is sustainable. I will keep you updated on trends.
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 2011
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