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Two years ago I did a blog advising that stagnation and not a property bubble was the worry. Interestingly after 6 months the Scottish property market is starting to show those hallmarks. The number of properties coming onto the market is at best the same as last year if not slightly down. Prices are increasing accordingly. I am receiving more and more reports from clients who are advising that they are not prepared to put their property on the market unless there is something that they wish to buy. The chronic shortage of properties being built throughout the whole of the UK is fuelling this problem and I think that there is a duty on Central and Scottish Government and Local Authorities to do all they can to increase the amount of development that is ongoing. I am receiving mixed messages regarding the mortgage market and will report on the stats shortly.
Partner – Head of Property