16th September 2015

Property Update - Summer 2015

Apologies for the delay in blogging in 2015.  This has been caused by an upsurge in property activity in particular.  With the General Election in May and all parties showing a disregard for the property market, there are a lot of issues to deal with.  I will provide you with some detailed stats over the coming weeks but in general terms I would say that the housing market in Scotland has had a very puzzling first half of the year in 2015.  There have actually been less properties coming on the market in comparison to previous years and this has caused prices, particularly in popular areas, to increase rapidly.  As I have stated on many occasions this year this feels to me like a rerun of the mid 90s where we are very much requiring property developers to begin developing.  The issue here is that without a massive increase in stock levels coming on to the market I have a real fear of stagnation and the mantra “I am not selling until I find somewhere to buy”  becoming popular.  The bigger developers with their part exchange, guaranteed price schemes and also other incentives should prove a welcome fill up to the property market.

I have noticed an increase in the number of property investors coming into the market, fuelled partially by good yields and also people accessing cash from their pension funds thus providing a degree of certainty in retirement.

I think that there are some exciting times ahead in the property market and it is a great time to be looking at investment and development opportunities.  I think that it is a great time to buy.

Lindsay Darroch
Partner – Head of Property 

 

 

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