I apologise for the delay in getting this blog to you, but this is probably the best example of the increase in activity in the property market that has been seen by me since the beginning of April.
At the start of the year I had been predicting growth in terms of the number of properties coming on the market anticipating a 10% increase from last year with sales following a similar pattern of increase. Currently with 4 months in (1st February to end May) this figure is currently holding at more than 40% of an increase. This is very positive and a figure that I will continue to monitor. My view is that as people are still prepared to put their houses on the market then you can see that there is pent-up activity and there are people who are wanting to move house for whatever reason. Readers of previous blogs will know my views on the Home Report but at least with the upfront cost we can guarantee that the people who are putting their houses on the market are genuine sellers.
The recent prediction from the Halifax which shows prices dropping because of increased volume ties in with the figures that I am seeing for the East of Scotland. My feeling is that because of the differences in the Scottish system and the underlying shortage of property, we will not see the drop in prices predicted by the Halifax but we should see a levelling off in price growth as numbers of properties coming on the market increase giving people more choice. I will keep you up to date with the statistics as I get them.
The opinions expressed in this blog are of the author only and do not necessarily represent the opinions of Blackadders LLP.
Blackadders takes all reasonable steps to ensure that the content of this blog is accurate and up to date. The blog 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. Blog users 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 blog. 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 blog 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 blog is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.
© Blackadders LLP 2020
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.